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Agelic Piano Pte Ltd wants to study the relationship between the age of a piano (X) and its selling price (Y). Listed below is a

Agelic Piano Pte Ltd wants to study the relationship between the age of a piano (X) and its selling price (Y). Listed below is a random sample of 5 used piano sold by the companies recently:

No.

Agein Years(X)

SellingPricein

$000(Y)

1 9 8.1
2 7 6.0
3 11 3.6
4 12 4.0
5 8 5.0

a) Determine the linear regression equation.

b)

i. If a piano is TEN (10) years old, how much is the selling price?

ii. If a piano is TWO (2) years old, how much is the selling price?

c)

i. Determine the correlation coefficient

ii. Interpret the result.

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