Question # 5. A car dealer wants to investigate how the price of one of its car models depreciates with age. A sample of eight cars of this model has been collected. The following represents the age (in years) and price (in thousands of Riyals) of these cars: Age (x) Price (v) 8 3 3 16 6 8 9 6 2 5 6 24 7 5 3 15 a. Construct a scatter plot for these data. What, if any, relationship appears to exist between the two variables? b. Compute the linear regression model based on the sample data. Interpret the slope and intercept coefficients. C. Determine the coefficient of determination and discuss what its value tells you about the two variables. d. Construct and interpret a 95% confidence interval estimate for the regression slop coefficient. (Sb1 = 3.14)(t = 1.9432)

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