33 Sruti Singh is shopping for a used Volkswagen Golf and feels that there is a relationship between the mileage and market value of the car. The following table provides data on previous car sales from the local area:

CAR MILEAGE MARKET VALUE AGE (years)

1 11,600 $14,200 1 2 22,800 $14,000 1 3 35,000 $10,500 3 4 42,700 $ 9,300 3 5 54,500 $12,800 4 6 58,200 $10,900 5 7 66,800 $ 9,500 7 8 73,100 $ 7,900 6 9 77,500 $ 6,200 8 10 85,700 $ 7,500 9

(a) Develop a simple regression model to predict the market value of a Volkswagen Golf based on its mileage.

(b) What percentage of the market value variation is explained by the mileage variable?

(c) Sruti has found a car with 46,700 miles. Construct a 95% confidence interval for the market value of this car.