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Correlation between price and depreciation in automobiles the data in car depreciation given in exercise 3.93 contains information on both new price and depreciation for a sample of 20 automobile mode
Correlation between price and depreciation in automobiles the data in car depreciation given in exercise 3.93 contains information on both new price and depreciation for a sample of 20 automobile models. (a) find the correlation between new price and depreciation from the original sample of 20 automobiles. (b) use statkey or other technology to create a bootstrap distribution of correlations and report the standard error. (c) using the standard error, create and interpret a 95% confidence interval for the correlation between new price and depreciation of automobile models.
