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Question 4 (Total 20 m The price of a second hand car (in RM thousands) depends on the age of the car as shown in

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Question 4 (Total 20 m The price of a second hand car (in RM thousands) depends on the age of the car as shown in the scatter diagram and the summary output below Price of Vios (RM 000) R 10 Age of car SUMMARY OUTPUT Regression Statistics Adjusted R Square 0.910 Standard Error 3.158 Observations ANOVA MS Significonce Regression 715.042 715.042 71.703 0.000 Residual 59.833 9.972 Total 774.875 Standard Upper Coefficients Error t Stat P-value Lower 95% 95% Intercept 62.048 3.065 20.242 0.000 54.547 69.548 X Variable 1 -3.119 0.368 -8.468 0.000 4.020 -2.218 i) Determine and interpret the coefficient of correlation and coefficient of determination. (6 marks) Develop the regression equation and interpret the coefficients. 4 marks)

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