# An auto manufacturing company wanted to investigate how the price of one of its car models depreciates with ages.  The research department at the company took a sample of 8 cars of this model and collected information on the ages (in years) and prices (in hundreds of dollars). Age83692563Price18945021145423699Use the 2 points (3,99) and (8,18) to calculate a line of fit.      Enter the value of the slope, using the exact value.      Enter the value of the y intercept, using the exact value.

Question
Asked Nov 8, 2019
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An auto manufacturing company wanted to investigate how the price of one of its car models depreciates with ages.  The research department at the company took a sample of 8 cars of this model and collected information on the ages (in years) and prices (in hundreds of dollars).

 Age 8 3 6 9 2 5 6 3 Price 18 94 50 21 145 42 36 99

Use the 2 points (3,99) and (8,18) to calculate a line of fit.

Enter the value of the slope, using the exact value.

Enter the value of the y intercept, using the exact value.

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Step 1

Excel Procedure for Regression:

• Enter the data for Age as (3 & 8) and Price (99 &18) in Excel sheet.
• Go to Data
• Click on Data Analysis.
• Select ‘Regression’ and click on ‘OK’
• Select the column of Price under ‘Input Y Range’.
• Sel...

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