Inces The Owner Of Maumee Ford Volvo Wants To Study The Relationship Between The Age Of A Car And Its Selling Price Lis 1 (24.21 KiB) Viewed 11 times
Inces The Owner Of Maumee Ford Volvo Wants To Study The Relationship Between The Age Of A Car And Its Selling Price Lis 2 (21.95 KiB) Viewed 11 times
inces The owner of Maumee Ford-Volvo wants to study the relationship between the age of a car and its selling price. Listed below is a random sample of 12 used cars sold at the dealership during the last year. Car 1 2 3 4 5 6 7 8 9 10 11 12 Age (years) 13. 10: 15 a= b= 17 11 10 11 15 15 17 Selling Price (5000) 13.1 11.8 4.5 13.0 11.0 pictureClick here for the Excel Data File a. Determine the regression equation. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) B 5.7 4.9 6.8 14.0 11.4 9.8 9.8
b. Estimate the selling price of an 7-year-old car (in $000). (Round your answer to 3 decimal places.) Selling price c. Interpret the regression equation (in dollars). (Round your answer to the nearest dollar amount.) For each additional year, the car decreases in value.
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!