Question
A team of Kents students has derived the following equation that can be used to predict the price of a used car (in dollars) from
A team of Kents students has derived the following equation that can be used to predict the price of a used car (in dollars) from its age (in years). Price = 37 650 4200 Age a) According to this regression equation, what is the maximum value of a used car? b) According to this regression equation, how long it takes to get a care value to become zero value. c) Write the slope of this model and explain the rate of change between the independent and dependent variables. d) Use the equation to predict the average price of a 5-year-old second-hand car.
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