Ten Jeep Cherokee classified ads were selected.The age and prices of several used Ford Escorts are given in the table. $$\begin{array} { c l }
\text { Age (years) } & \text { Price } \
1 & \$ 19,000 \
1 & \$ 18,500 \
2 & \$ 16,000 \
3 & \$ 13,000 \
3 & \$ 12,600 \
4 & \$ 10,000 \
4 & \$ 9000 \
5 & \$ 6000 \
6 & \$ 4000 \
6 & \$ 2900
\end{array}$$
A) $\hat{\text { price }}$ = 7.05 -0.000319 age
B) $\hat{\text { price }}$ = -3110 + 22000 age
C) $\hat{\text { price }}$ = 21979 - 3108 age
D) $\hat{\text { price }}$ = 17200 - 891 age
E) $\hat{\text { price }}$ = 19000 - 3000 age

Question

Ten Jeep Cherokee classified ads were selected.The age and prices of several used Ford Escorts are given in the table. $$\begin{array} { c l } 
\text { Age (years) } & \text { Price } \
1 & \$ 19,000 \
1 & \$ 18,500 \
2 & \$ 16,000 \
3 & \$ 13,000 \
3 & \$ 12,600 \
4 & \$ 10,000 \
4 & \$ 9000 \
5 & \$ 6000 \
6 & \$ 4000 \
6 & \$ 2900
\end{array}$$
A) $\hat{\text { price }}$ = 7.05 -0.000319 age
B) $\hat{\text { price }}$ = -3110 + 22000 age
C) $\hat{\text { price }}$ = 21979 - 3108 age
D) $\hat{\text { price }}$ = 17200 - 891 age
E) $\hat{\text { price }}$ = 19000 - 3000 age

Quizplus · Accepted Answer

To determine the best choice, we need to compare the equations to the given data points. We don't have any data points for option A. Option B gives negative prices for all ages, which doesn't make sense. Option D and E have intercepts (the price when age is zero) that are much higher than any of the given prices.

Option C, 21979 - 3108 age, seems to be the best fit. When age is zero, the price is 21979, which is close to the highest price in the data points. As age increases, the price decreases, which is consistent with the data. While the equation doesn't match every data point perfectly, it seems to be the closest and most reasonable approximation.

Ten Jeep Cherokee Classified Ads Were Selected A) price ^\hat{\text { price }} price ^​

Ten Jeep Cherokee Classified Ads Were Selected A) $\hat{\text { price }}$