Looking at the Excel output, and the Regression Equation they wrote out, interpret the slope of their Regression Equation. Use their Regression Equationto make a prediction and show the work for your predicted value based on your expression. For Example, if your peer used Year to predict Price, plug in a Year value into the regression equation and use it to predict the Price of a vehicle. Does this predicted Price value make sense with their data?

Reference Data:

As you can see in my excel, I used the function =Correl to get the data for the price and how old the vehicle are.

Correlation: -.4058. To get R squared. I multiplied the correlation -.4058 x - .4058 which was 0.1667 equals to 16.67%.

After that I input my data in the data analysis tools. Please see excel for the data.

P-value=.0005, Coefficient value -12,529.33 and $52,595.

We can use an example from my data one car which is 1 year old.

-12,529.33(1) + 52595 = 40065.67.

SUMMARY OUTPUT
Regression Statistics
Multiple R	0.40579459
R Square	0.16466925
Adjusted R Square	0.06025291
Standard Error	9465.14359
Observations	10
ANOVA
	df	SS	MS	F	Significance F
Regression	1	141285774	141285774	1.57704477	0.24462134
Residual	8	716711546	89588943.3
Total	9	857997320
	Coefficients	Standard Error	t Stat	P-value	Lower 95%	Upper 95%	Lower 95.0%	Upper 95.0%
Intercept	52595	9465.14359	5.55670387	0.00053674	30768.3397	74421.6603	30768.3397	74421.6603
Year old	-12529.333	9977.13738	-1.2558044	0.24462134	-35536.653	10477.9867	-35536.653	10477.9867

Vehicle	Year	Make	Model	Price	MPG (city)	MPG (highway)	Transmission	Year old
Car	2023	Toyota	Supra	$58,097	19	27	Manual	1
Car	2023	Honda	Civic Type R	$44,490	22	28	Manual	1
Car	2023	Toyota	Corolla GR	$43,995	21	28	Manual	1
Car	2023	Volkswagen	Golf R	$45,835	20	28	Manual	1
Car	2023	Subaru	WRX	$34,164	19	26	Manual	1
Car	2023	Subaru	BRZ	$29,615	20	27	Manual	1
Car	2023	Toyota	GR86	$28,295	20	27	Manual	1
Car	2023	Nissan	Z	$42,085	18	24	Manual	1
Car	2024	Acura	Integra	$52,595	30	37	Manual	0
Car	2023	Hyundai	Elantra N	$34,015	22	31	Manual	1
Qualitative	Quantitative	Qualitative	Qualitative	Quantitative	Quantitative	Quantitative	Qualitative
					Correlations	-0.40579459
				$41,319	R-squared	16.47%