Reconsider the previous exercise on prices of Honda Civics.
a. Find the regression equation that predicts the price of the car given its age.
b. Interpret the slope and intercept of the regression line.

Data from previous exercise

The data in the file UsedHondaCivics come from a sample of used Honda Civics listed for sale online in July 2006. Th e variables recorded are the car’s age (calculated as 2006 minus year of manufacture) and price. Consider conducting a simulation analysis to test whether the sample data provide strong evidence of an association between a car’s price and age in the population in terms of the population slope.