A simple linear regression model was fitted to the data using Excel, with the outlier excluded. The summary output and diagnostic plots follow for your reference in answering the remaining questions. Histogram of Residuals SUMMARY OUTPUT Regression Srotates Multiple R 0.752331034 Frequency A Square Adjusted R Squan 0.5636433 Standard Error 3.638406823 Observations ANOVA of SS MS Significance F Regression 3176 658752 3176.658752 239.9650724 3.464436-35 Residual 184 2435. 797861 13.23800458 185 5612. 451613 [-7.938954916,. (-5.738954916,.. (-3.538954916,. (-1.338954916,.. (0.861045084,. (3.061045084,.. (5.261045084,. (7.461045084, (9.661045084,.. (11.86104508, Coefficients Standard Error P.value Lower 95% Upper 95% LOWer 95. ON Upper 95.ON Intercept 36 57704504 0.528145687 69.25599736 9.82788-134 35.535045 37.61904508 35.535045 37.61504308 0.0005 15129 3.325396-05 .15.29080606 3.45443E-35 0.000680737 0.000449521 Q.000580737 Q.000449521 Bin price Residual Plot c. Write down the regression equation that describes the relationship between Fuel Efficiency 15 (Km/L) and Sale price and use this to predict the Kilometres per Litre for a car that has a price of $35,000. (3 marks) 10 d. Say why you would inspect the "residual plot" prior to using the regression equation to predict the Fuel Efficiency (Km/L) of a particular car. Also say what you would conclude about the regression model from looking at this plot. 5 (2 marks) Residuals e. State the value of the coefficient of Sale price (slope coefficient) and interpret this value in 0 the context of the problem at hand. (2 marks) 30000 40000 50000 f. State the value of the coefficient of determination in the model and interpret this value in -5 the context of the situation. (2 marks) -10 g. The dealer thought he might use this regression model for used cars. Say (from a statistical price perspective) if this is a sensible course of action. Justify your answer. (2 marks)