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I need some assistance with these 2 questions Use your model to estimate the price of a car that has 100,000 miles. Is this prediction

I need some assistance with these 2 questions

  1. Use your model to estimate the price of a car that has 100,000 miles. Is this prediction reasonable? Why or why not?
  2. Provide a brief conclusion or discussion of the results that includes one of the following:
    • potential problems or sources of bias
    • are the results what you expected?
    • are there other variables that may also be useful to predict the price of a car

These the data I have so far

Simple linear regression results:

Dependent Variable: Price Independent Variable: Mileage Price = 41116.768 - 0.17675013 Mileage Sample size: 30 R (correlation coefficient) = -0.46576164 R-sq = 0.2169339 Estimate of error standard deviation: 9248.6584

Parameter estimates:

ParameterEstimateStd. Err.AlternativeDFT-StatP-value
Intercept41116.7682661.5978 02815.448152
Slope-0.176750130.06346236 028-2.78511750.0095

Analysis of variance table for regression model:

SourceDFSSMSF-statP-value
Model16.6350549e86.6350549e87.75687940.0095
Error282.3950551e985537682
Total293.0585606e9

PriceMileage
2890028330
4100021650
4149924376
389994644
2538324053
434994863
349806432
6182910643
3949982140
2869140210
3950259130
2899830000
4209410762
3074941148
4100021650
2479591785
2650019971
455904220
433438324
3097524909
19500101449
2599551195
2850039942
3599934883
2299723005
3349911342
2749933706
3397517546
3131386891
6449913372

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