Data were collected on the age (in years) and price (in thousands of dollars) of a random sample of 25 used Hyundai Elantras. A scatterplot of the data (with regression line) and computer output from a regression analysis are provided.

Use three decimal places when reporting the results from any calculations, unless otherwise specified.

The regression equation is Price = 15.3 - 1.71 Age

Predictor

Coef

SE Coef

T

P

Constant

15.2912

0.5840

26.18

0.000

Age

-1.7126

0.1264

-13.55

0.000

S = 1.37179R-Sq = 88.9%R-Sq(adj) = 88.4%

Predicted Values for New Observations

Age

Fit

SE Fit

95% CI

95% PI

3

10.154

0.306

(9.520, 10.787)

(7.246, 13.061)

Reference: 9-5

Construct and interpret a 90% confidence interval for the population slope.