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7. A consumer report agency reviewed data for the average market value of a 2012 Toyota Camry with the most recent data coming from sales
7. A consumer report agency reviewed data for the average market value of a 2012 Toyota Camry with the most recent data coming from sales in 2021. It found a linear model exists between market value (dollars) and age (years) of the vehicle. Below is the equation for this model. value = -1883 x (age) + 28, 597 (a) Interpret the slope of the equation in the context of the data. Does the intercept have practical meaning? If so, interpret. (b) Is the correlation coefficient positive or negative? Explain. (c) The model predicts the car will be worth a negative dollar value in 2030. Explain why this prediction is not reliable. (d) What is the residual value for a Camry that was 4 years old at the time of the sale and sold for $23,300? Interpret the result. (e) Suppose R2 = 0.9185. What does this communicate about the data
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