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
р
Constant 2415712 2164.1 2.965
0.046
Mileage
-0.181 0.024 5.377
0.000
s = 3860.7
R-S = 68.0%
R-Sq (Adi) = 69.59
Using the computer output, what is the value of the coefficient of determination?
00.46
0.68
N
0.70
0.82