The relationship between the price of yachts (y) and their length (x) is analyzed.The mean length was 41 metres with a standard deviation of 11.The mean price was $84,000 with a standard deviation of 14,000.The correlation between the price and the length was 0.41.

A) $^\hat{\text { price } }$ = 31,800 + 1270 length
B) $^\hat{\text { price } }$ = 70,800 + 0.000322 length
C) $^\hat{\text { price } }$ = -962,000 + 547 length
D) $^\hat{\text { price } }$ = -4,040,000 + 622 length
E) $^\hat{\text { price } }$ = 62,605+ 522 length

Question

The relationship between the price of yachts (y) and their length (x) is analyzed.The mean length was 41 metres with a standard deviation of 11.The mean price was $84,000 with a standard deviation of 14,000.The correlation between the price and the length was 0.41.

A)

^\hat{\text { price } }

= 31,800 + 1270 length
B)

^\hat{\text { price } }

= 70,800 + 0.000322 length
C)

^\hat{\text { price } }

= -962,000 + 547 length
D)

^\hat{\text { price } }

= -4,040,000 + 622 length
E)

^\hat{\text { price } }

= 62,605+ 522 length

Zybrea Knight · Accepted Answer

Final Answer : E, Explanation :  The equation   = 62,605+ 522 length has the highest correlation coefficient of 0.41, which suggests a moderately positive linear relationship between the price and the length. Additionally, this equation has a constant term and a coefficient for length that seem reasonable for the context of the problem. The other equations either have negative constant terms or coefficients that seem too high or too low to accurately predict the price of a yacht based on its length.

Definitions

Learning Objectives

Learning Objectives

Related questions