Determine the standard error of estimate. (Round your answer to 3 decimal places.)   b. Determine the coefficient of determination. (Round your answer to 3 decimal places.)   c. Interpret the coefficient of determination. (

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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   Age (years)   Selling Price ($000)
  1       9       8.1  
  2       7       6.0  
  3       11       3.6  
  4       12       4.0  
  5       8       5.0  
  6       7       10.0  
  7       8       7.6  
  8       11       8.0  
  9       10       8.0  
  10       12       6.0  
  11       6       8.6  
  12       6       8.0  
 

 

 

  Click here for the Excel Data File

a. Determine the standard error of estimate. (Round your answer to 3 decimal places.)

 



b. Determine the coefficient of determination. (Round your answer to 3 decimal places.)

 



c. Interpret the coefficient of determination. (Round your answer to the nearest whole number.)

 
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