A study was conducted to investigate the relationship between the resale price, y (in hundreds of dollars), and the age, x (in years), of midsize luxury American automobiles The equation of the line of best fit was determined to be y 185 7 21 52x a Find the resale value of such a car when it is 3 years old b Find the resale value of such a car when it is 6 years old c What is the average annual decrease in the resale price of these cars

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Question: A study was conducted to investigate the relationship between the resale price, y (in hundreds of dollars), and the age, x (in years), of midsize

A study was conducted to investigate the relationship between the resale price, y (in hundreds of dollars), and the age, x (in years), of midsize luxury American automobiles. The equation of the line of best fit was determined to be ˆ y 185.7 21.52x.

a. Find the resale value of such a car when it is 3 years old.

b. Find the resale value of such a car when it is 6 years old.

c. What is the average annual decrease in the resale price of these cars?

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