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Question: You manage a car dealership that sells economy cars of similar styles at various ages. A customer wants to trade in a car with

Question: You manage a car dealership that sells economy cars of similar styles at various ages. A customer wants to trade in a car with a new purchase. The car is eight years old. Using linear regression, what do you think the car will sell for if you take the car as a trade-in?

Car Age (in years) Sale Price (in dollars)
4 6300
4 5800
5 5700
5 4500
7 4500
7 4200
8 4100
9 3100
10 2100
11 2500
12 2200

Please can you provide the explanation and calculations? Thanks

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