The Scatterplot Below Suggests a Linear Relationship Between the Age

question 33

Multiple Choice

The scatterplot below suggests a linear relationship between the age (in years) of an antique clock and its sale price (in euros) at auction. The data are age and sale price for 11 antique clocks sold at a recent auction. We fit the least-squares regression line to the model price =  +  (age) , where the deviations are assumed to be independent and Normally distributed, with mean 0 and standard deviation . A summary of the output is given.
R² = 0.848
S = 33.1559 The approximate intercept of the least-squares regression line is:

• A)27.73.
• B)1.893.
• C)34.84.
• D)0.267.

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Definitions:

Waived Rights

Rights that an individual or entity has voluntarily chosen to relinquish or forsake, often through a formal statement or agreement.

Strict Performance

A legal principle requiring parties to a contract to perform their obligations precisely, without deviation from the contract terms.

Place of Delivery

The specific location agreed upon by the seller and the buyer where the goods will be delivered and ownership is transferred.

Warehouse

A large building where goods are stored before they are distributed for sale or further processing.