Performing simple regression analysis with the age of a car (in years) as the independent variable andthe resale value of the car (in $)as the dependent variable, you come up with the following values...

r = -0.29

r²= 0.08

y = 12,547 - 426x

Which would be the correct interpretation of the regression equation?

Question 5 options:

Each additional year in a vehicle's age leads to a decrease of $426 in its resale value.

29% of the variability in resale value can be explained by the linear relationship betweenit's age and resale value.

Each additional year in a vehicle's age leads to an increase of $426 in its resale value.

Each additional dollar in resale value leads to an increase of 12,547 years in its age.

There is a weak,negative linear relationship between a vehicle's age and its resale value.

8%of the variability in resale value can be explained by the linear relationship betweenit's age and resale value.

There is a strong, negative linear relationship between a vehicle's age and its resale value.

Each additional year in a vehicle's age leads to a decrease of $12,547 in its resale value.