The Relationship Between the Price of Yachts (Y)and Their Length $\hat{\text { price } }$

question 46

Multiple Choice

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

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Definitions:

Store Of Value

An asset that can be saved, retrieved, and exchanged at a later time, and is predictably useful in the future to purchase goods and services.

Medium Of Exchange

A system or object that is widely accepted in exchange for goods and services, facilitating trade by eliminating the need for a barter system.

Unit Of Account

A standard numerical monetary unit of measurement that provides a uniform measure of the value of goods and services.

Bank Failures

Occurs when a bank is unable to meet its obligations to depositors or creditors and is taken over by a regulatory agency.