The owner of a used car dealership is trying to determine if there is a relationship between the price of a used car and the number of miles it has been driven. The owner collects data for 25 cars of the same model with different mileage
and determines each car's price using a used car website. The analysis is given in the computer output.
Predictor
Coef
SE Coef t-ratio
Constant
24157-2
P
2164.1
2.965
Mileage
0.046
-0.181
0.024 5.377
0.000
S= 3860.7
R-Sq = 68.03
R-Sq (Adj)
= 69.58
Which of the following represents the value of the average residual for a car's price?
© 0.024
O 2164.1
O
3860.7
O 24157.2