Saved a. Determine the regression equation. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) a = b. Estimate the selling price of an 9-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 n valuo

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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.
Age
Car (years)
Selling Price
(S000)
10
10.8
9.1
3.
12
16
4.3
4.
5.0
5.1
11.5
11.6
13
8.0
8.0
12
10
16
3.9
12.8
11.1
11
12
Dicture Click here for the Excel Data Fle
6. Determine the regression equation. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal
places.)
be
b. Estimate the selling price of an 9-year-old car in $000) (Round your answer to 3 decimel places)
Transcribed Image Text: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. Age Car (years) Selling Price (S000) 10 10.8 9.1 3. 12 16 4.3 4. 5.0 5.1 11.5 11.6 13 8.0 8.0 12 10 16 3.9 12.8 11.1 11 12 Dicture Click here for the Excel Data Fle 6. Determine the regression equation. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) be b. Estimate the selling price of an 9-year-old car in $000) (Round your answer to 3 decimel places)
Saved
a. Determine the regression equation. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal
places.)
a =
b. Estimate the selling price of an 9-year-old car (in $000). (Round your answer to 3 decimal places.)
Seling price
c. Interpret the regression equation (in dollars). (Round your answer to the nearest dollar amount.)
For each additional year, the car decreases
n value
Transcribed Image Text:Saved a. Determine the regression equation. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) a = b. Estimate the selling price of an 9-year-old car (in $000). (Round your answer to 3 decimal places.) Seling price c. Interpret the regression equation (in dollars). (Round your answer to the nearest dollar amount.) For each additional year, the car decreases n value
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