The owner of several used-car dealerships believes that the selling price of a used car can best be predicted using the car's age. He uses data on the recent selling price and age of 12 used sedans to estimate Price =₀+₁Age +.

Age	Price (in thousands)
9	8.1
7	6
11	3.6
12	4
8	5
7	10
8	7.6
11	8
10	8
12	6
6	8.6
6	8

Here is the output:

SUMMARY OUTPUT
Regression Statistics
Multiple R	0.543646332
R Square	0.295551334
Adjusted R Square	0.225106468
Standard Error	1.732105125
Observations	12
ANOVA
	df	SS	MS	F	Significance F
Regression	1	12.58728503	12.58729	4.195499	0.067701617
Residual	10	30.00188164	3.000188
Total	11	42.58916667
	Coefficients	Standard Error	t Stat	P-value	Lower 95%	Upper 95%
Intercept	11.17723824	2.143271172	5.215037	0.000393	6.401732492	15.952744
Age	-0.47875569	0.233734146	-2.04829	0.067702	-0.99954782	0.04203644

a.What is the point estimate for₁? Interpret this value.

b.What is the sample regression equation?

c.Predict the selling price of a 5-year-old sedan.

d. What is the coefficient of determination?