Domestic auto sales in the United States: For 2001 through 2005, the following table shows the total U.S. sales, in millions, of domestic automobiles (excluding light trucks). a. Plot the data points....


Domestic auto sales in the United States: For 2001 through 2005, the following table shows the total U.S. sales, in millions, of domestic automobiles (excluding light trucks).


a. Plot the data points. In your opinion, does it appear appropriate to approximate these data with a linear function?


 b. Get the equation of the regression line (rounding parameters to two decimal places), and explain in practical terms the meaning of the slope. In particular, comment on the meaning of the sign of the slope.


 c. Add the graph of the regression line to the data plot in part a. In your opinion, does this picture make the use of the regression line here appear to be more or less appropriate?


d. In 2006 5.44 million domestic cars were sold in the United States. How does the forecast obtained from the regression line compare with this figure?



May 06, 2022
SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here