Regression Equation

Price

=

1125 -27.3Age

Coefficients

Term	Coef	SE Coef	T-Value	P-Value	VIF
Constant	1125	118	9.55	0.000
Age	-27.3	12.4	-2.20	0.046	1.00

Model Summary

S	R-sq	R-sq(adj)	R-sq(pred)
186.875	27.13%	21.53%	5.87%

Analysis of Variance

Source	DF	Adj SS	Adj MS	F-Value	P-Value
Regression	1	169036	169036	4.84	0.046
Error	13	453987	34922
Total	14	623024

1. Is there evidence of a negative linear relationship between price and age? Use alpha = .025.
2. What proportion of variability in price is explained by age?
3. Construct a 90% CI for Beta0 and interpret it.
4. Test at significance level alpha = .05 if Beta1 = -40 vs Beta1 < -40.
5. What is the value of SS_xy?