Questions 16-25 refer to the following setting. An auto manufacturing company wanted to investigate how the price of one of its car models depreciates with age. The research department at the company took a sample of eight cars of this model and collected the following information on the ages (in years) and prices (in hundreds of dollars) of these cars. Age 8 3 6 9 2 5 6 3 Price 45 210 100 33 267 134 109 235 You should first use the formulas from class notes (or from the textbook) to find the solutions to the following questions on paper: (1) the least square regression line with price as dependent variable and age as independent variable y = a + bx (2) calculate the standard deviation of errors s, and standard deviation of b: sp (3) calculate the correlation coefficient r and the coefficient of determination 1- (4) construct a 95% confidence interval (5) test at the 5% significance level whether the slope B is negative Then answer questions 17-25 based on your solutions. The scatter diagram for the data is 18 36 20 Question 17 4 pts. substitute 8 to "x" Refer to the data in Question 16. Find the least square regression line with price as a dependent variable and age as an independent variable. -St (A)9-322.4481 +34.4425x 598-3181 (B) 9--322.4481-34.4425x (C)9-322.4481-34.4425) 4.296) (D) 9--322.4481+ 344425x-47291 00 OID) (A) (B) Not possible to gield result negative AS price Option C is the least Question 18: Refer to the least square regression line in Question 17. Predict the price of a 7-year-old car of this model (A) 58135 (B) 581.35 (C) $5635 (D) $56.35 4 pts I think this should have been the angwer 3224481 34.4425x. y= 322.4481-34.4423 (7) J-81.3506. (59813506) OB 09 ow OD