Question

Pre planning to sell a used 1988 automobile and want to establish an asking price that is competitive with that of other cars of the same make and model that are on the market. A review of newspaper advertisements for used cars yields the following data for 12 different cars of this make an_________.

Answer 1

Answer:

and model.

Explanation:

Of course to determine the asking price for the used 1988 automobile, comparism would be made with other cars of the same make and model that are on the market.

This may involve the use of some statistical tools such as regression analysis, which involves examining which factor matters the most in establishing a price, or how these factors influence each other.