Open Camaro Practice Data in Minitab:

age	price
2	15900
5	10988
2	16980
5	10995
4	11995
5	10995
1	20365
2	16463
6	10824
1	19995
1	18650
4	10488

This data set represents the price of a random sample of Chevrolet Camaros, by age.

• Find the mean, median, and standard deviation for the variable price?
• Create a scatter diagram using price as the dependent variable and age as the independent variable. Describe the relationship between price and age?
• Calculate the correlation coefficient between car price and age?
• Find the equation of the least-squares regression line?
• Interpret the slope of the least-squares regression line for this model?
• Interpret the intercept of the least-squares regression line for this model?
• Predict the price of a Camaro that is 3 years old?
• Find the residual for the first observation: A 2-year-old Camaro that costs $15,900 (2,15900)?
• Predict the price of a Camaro that is 8 years old?
• Change age to days (consider the year = 365 days). Recalculate the correlation coefficient between car price and age (in days)?
• What percent of the variation in price is explained by the age of the car in years?