The owner of Maumee Motors wants to study the relationship between the age of a car and its selling price. Listed below

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The Owner Of Maumee Motors Wants To Study The Relationship Between The Age Of A Car And Its Selling Price Listed Below 1 (38.64 KiB) Viewed 115 times

The owner of Maumee Motors 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 Maumee Motors during the last year: Selling Price ($ Car Age (years) thousands) 1 7 $4.5 2 8 7.7 3 6 9.4 4 2 7.2 5 4 4.7 6 11 4.0 Selling Price ($ Car Age (years) thousands) 7 15 $6.2 8 14 7.7 9 7 9.9 10 10 6.6 11 9 6.4 12 11 7.6 a. Determine the correlation coefficient. (Negative answer should be indicated by a minus sign. Round the final answer to 3 decimal places.) b. Determine the coefficient of determination. (Round the final answer to 3 decimal places.) c. Interpret these statistical measures. Does it surprise you that an inverse relationship exists? (Round the final answer to the nearest whole number.) percent of the variation in the selling price is Weak negative (inverse) correlation between age of car and selling price. So, explained by the variation in the age of the car.