The following sample observations were randomly selected: X: 4 5 3 6 10 Y: 4 6 5 7 7 a. Determine the regression equation. b. Determine the value of Y' when X is 7 The owner of Maumee Motors wants to study the relationship between the age of a car and its selling price. Listed below is a random sample of 12 used cars sold at Maumee Motors last year: Car Age (years) Selling Price ($ thousands) 1 9 8.1 2 7 6 3 11 3.6 4 12 4 5 8 5 6 7 10 7 8 7.6 8 11 8 9 10 8 10 12 6 11 6 12 6 8.6 8 a. If we want to estimate selling price on the basis of the age of the car, which variable is the dependent variable, and which is the independent variable? b. Determine the regression equation. c. Estimate the selling price of a 10-year-old car.