The owner of Maumee Ford-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.

Car Age (years) Selling Price ($000)

1 12 10.3

2 10 9.2

3 15 4.6

4 18 4.2

5 12 5.1

6 10 11.6

7 12 8.0

8 16 7.8

9 14 7.8

10 18 4.3

11 8 10.0

12 8 8.8

Click here for the Excel Data File

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

a = ___

b = ___

1. Estimate the selling price of an 13-year-old car (in $000).(Round your answer to 3 decimal places.)

selling price _____

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

For each additional year, the car price decreases ____ in value.