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(15 pts) You want to examine the relationship between the age (X) and the price for used cars sold (Y in 1000S) in the last

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(15 pts) You want to examine the relationship between the age (X) and the price for used cars sold (Y in 1000S) in the last year by a car dealership company. The data summarizes a dataset containing 11 observations as follows: ZX=82; 2X52 = 690; z Yi=45 ;2 Y5 = 205.88 ; ZXilQ=2953 ; (3) Determine the least squares regression line (b) Calculate the standard error estimate 5. Hint: 1) What's the formula for r? 2) SSE = SST-55R: SST (r2 * SST). 3) After you get SSE, nd the s. (c) Predict at 95% confidence level price for used cars when the car age is 5. In other words, construct a 95% prediction interval for X=5. Let us assume 5 is within the range of X values in the dataset. Note: [Please write down all the formula to receive full points.]

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