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MMLU / The relation between the selling price of a car (in …

Problem

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question

The relation between the selling price of a car (in $1,000) and its age (in years) is estimated from a random sample of cars of a specific model. The relation is given by the following formula: Selling price = 15.9 – 0.983 (age) Which of the following can we conclude from this equation?

choices

  1. For every year the car gets older, the selling price goes down by approximately 9.83 percent.
  2. A new car costs on the average $9,830.
  3. For every year the car gets older, the selling price drops by approximately $1,590.
  4. For every year the car gets older, the selling price drops by approximately $983.

subject

high_school_statistics

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