The owner of Maumee Ford-Mercury-Volvo 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 the dealership during the last year.

CarAge (years)Selling Price ($000)CarAge (years)Selling Price ($000)1129.37128.4297.68146.23133.09136.24174.010174.85115.311710.1699.81279.1

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(a)Determine the regression equation.(Round your answers to 3 decimal places. Negative values should be indicated by a minus sign.)

a=

b=

(b)Estimate the selling price of a 6-year-old car (in $000).(Round your answer to 3 decimal places.)

Selling price

(c)Interpret the regression equation (in dollars).(Round your answer to nearest dollar amount.)

For each additional year, the car decreases $in value.