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The owner of Maumee Ford-Volvo wants to study the relationship between the age ofa car and its selling price. Listed below is a random sample
The owner of Maumee Ford-Volvo wants to study the relationship between the age ofa car and its selling price. Listed below is a random sample of12 used cars sold at the dealership during the last year. Age Selling Price Car (YEEFS) ($338) 1 18 9.3 2 3 8.1 3 13 3.9 4 l? 2.2 5 18 5.5 5 3 19.8 7 18 9.5 3 14 5.4 9 11 5.4 16 1? 2.7 11 7 11.3 12 7 9.9 BpictureClick here for the Excel Data File a. Determine the regression equation. {Negative amounts should be indicated by a minus sign. Hound your answers to 3 decimal places.) b. Estimate the selling price of an 10-year-old car [in $000). {Round your answer to 3 decimal places} _:| c. Interpret the regression equation {in dollars]. {Round your answer to the nearest dollar amount.)
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