Miles (1000s) Price ($1000s)

22 16.2

29 16.0

36 13.8

47 11.5

63 12.5

77 12.9

73 11.2

87 13.0

92 11.8

101 10.8

110 8.3

28 12.5

59 11.1

68 15.0

68 12.2

91 13.0

42 15.6

65 12.7

110 8.3

This data set consists of Miles(1000s) covered by a car and its resale value, Price ($1000). You will use this data to answer questions 9 and 10 listed below:

9. Draw a scatter plot to understand the relationship between the two variables. What type of relationship is it? (positive, negative; strong, weak, moderate)

10. Develop a regression model for predicting price based on distance covered. What will be the price of a car that has covered 60,000 miles?