Data:

Selling Price Age Miles 7 61477 13554 13713 22970 15260 16386 16639 16902 18485 18830 19828 11896 14937 15879 16467 9478 12994 15710 10517 8940 11953 54368 8242 24882 22126 23654 2 47397 16820 7 35376 29634 855775 46198 337035 45548 886924 77257 759600 93215 48217 42411 1 9 10 10 check my work The accompanying table shows a portion of data consisting of the selling price, the age, and the mileage for 20 used sedans selling PriceAge Miles 61,477 8 54,368 13,554 13,713 11,953 10 42,411 Xc a. Determine the sample regression equation that enables us to predict the price of a sedan on the basis of its age and mileage (Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.) [If you are using R to obtain the output, then first enter the following command at the prompt: options(scipen-10). This will ensure that the output is not in scientific notation. r ice- b. Interpret the slope coefficient of Age The slope coefficient of Age is -487.30, which suggests that for every additional year of age, the predicted price of car decreases by $487.30 decreases by $0.08 decreases by $487.30, holding number of miles constant. decreases by $0.08, holding number of miles constant. The slope coefficient of Age is -0.08, which suggests that for every additional year of age, the predicted price of car The slope coefficient of Age is -487.30, which suggests that for every additional year of age, the predicted price of car The slope coefficient of Age is -0.08, which suggests that for every additional year of age, the predicted price of car c. Predict the selling price of a eight-year-old sedan with 68,000 miles. (Round coefficient estimates to at least 4 decimal places and final answer to 2 decimal places.) Price- |