An individual wants to purchase a particular second hand car.He searches online for that model of car, and takes a random sample of the selling price ($000) and the age (years) ofthat model of car, he finds for sale.

He created the following regression.

Summary Output

Regression Statistics

Multiple R 0.90

R Square 0.81

Adjusted R Square 0.78

Standard error 9.89

Observations 10

Coefficients Standard Error t Stat P-value Lower 95%Upper 95%

Intercept 55.7 55.2 10.69 0.004 3.72 67.78

Age -4.85 0.83 -5.81 0.00 -6.77 -2.93

A)Write down the regression equation, using the names of the variables.

B)Interpret the coefficient of Age.