document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=53391>Question 53391</A>This question is from textbook <A HREF=http://www.amazon.com/exec/obidos/ASIN/0618073639/algebrahomeworkh>Applied College Algebra</A><BR>\n" );
document.write( ": <I><SPAN STYLE=\"word-break: break-all;\"> 14. The data in the table below show the trade-in values for a 2-door, 1998 Ford Explorer utility vehicle in excellent condition for various odometer readings (in thousands of miles).<BR>\n" );
document.write( "Trade-in Value of a 1998 Ford Explorer, June 2002<BR>\n" );
document.write( "Odemeter  Trade-in  Odometer  Trade-in    <BR>\n" );
document.write( "reading   value     reading   value      <BR>\n" );
document.write( "45        $9560     65        $8660      <BR>\n" );
document.write( "50        $9435     75        $8110      <BR>\n" );
document.write( "55        $9285     90        $7410      <BR>\n" );
document.write( "60          8960                                                               a.compute the linear regression equation for these data.<BR>\n" );
document.write( " b. On the basis of this model, what is the expected trade-in value of a similar Ford Explorer with 80,000 miles on the odemeter? Round to the nearest whole number.        </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #35681 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=35681\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> reading value reading value <BR>\n" );
document.write( "45 $9560 65 $8660 <BR>\n" );
document.write( "50 $9435 75 $8110 <BR>\n" );
document.write( "55 $9285 90 $7410 <BR>\n" );
document.write( "60 8960\r<BR>\n" );
document.write( "\n" );
document.write( " a.compute the linear regression equation for these data.<BR>\n" );
document.write( "Using the TI-83 Linear Regression capability I find the following:<BR>\n" );
document.write( "expected trade = -50.1856..(mileage in thousands)+11928.81<BR>\n" );
document.write( "-----------\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "b. On the basis of this model, what is the expected trade-in value of a similar Ford Explorer with 80,000 miles on the odemeter? Round to the nearest whole number. <BR>\n" );
document.write( "ev(80)=-50.1856(80)+11928.81<BR>\n" );
document.write( "ev(80)=7914<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );