Question

Agelic Piano Pte Ltd wants to study the relationship between the age of a piano (X) and its selling price (Y). Listed below is a random sample of 5 used piano sold by the companies recently:

No.	Agein Years(X)	SellingPricein $000(Y)
1	9	8.1
2	7	6.0
3	11	3.6
4	12	4.0
5	8	5.0

a) Determine the linear regression equation.

b) i. If a piano is TEN (10) years old, how much is the selling price?

ii. If a piano is TWO (2) years old, how much is the selling price?

c) i. Determine the correlation coefficient

ii. Interpret the result.