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Please answer the full question using EXCEL Question 6.) Corvette, Ferrari, and Jaguar produced a variety of classic cars that continue to increase in value.

Please answer the full question using EXCEL

Question 6.) Corvette, Ferrari, and Jaguar produced a variety of classic cars that continue to increase in value. The data ClassicCars, based upon the Martin Rating System for Collectible Cars, show the rarity rating (1-20) and the high price ($1000) for 15 classic cars.

  1. Develop a scatter diagram of the data using the rarity rating as the independent variable and price as the dependent variable. Does a simple linear regression model appear to be appropriate?
  2. Develop an estimated multiple regression equation with x=rarity rating and x2 as the two independent variables.
  3. Consider a nonlinear relationship E(
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