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An auto manufacturing company wanted to investigate how the price of one of its car models depreciates with age. The research department at the company took a sample of eight cars of this model and collected the following information on the ages (in years) and prices (in hundreds of dollars) of these cars. Age 7 8 4 3 7 2 7 Price 44 29 24 52 71 28 73 28 Find the regression line equation in the form y = a + bx.Use "Age" as the independent variable and "Price" as the dependent variable. Round your answers to four decimal places. +( i eTextbook and Media Predict the price of a 5 year-old car of this model. Round your answer to one decimal place. i

An auto manufacturing company wanted to investigate how the price of one of its car models depreciates with age. The research department at the company took a sample of eight cars of this model and collected the following information on the ages (in years) and prices (in hundreds of dollars) of these cars. Age 7 8 4 3 7 2 7 Price 44 29 24 52 71 28 73 28 Find the regression line equation in the form y = a + bx.Use "Age" as the independent variable and "Price" as the dependent variable. Round your answers to four decimal places. +( i eTextbook and Media Predict the price of a 5 year-old car of this model. Round your answer to one decimal place. i

Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter7: Distance And Approximation
Section7.3: Least Squares Approximation
Problem 31EQ
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An auto manufacturing company wanted to investigate how the price of one of its car models depreciates with age. The research department at the company took a sample of eight cars of this model and collected the following information on the ages (in years) and prices (in hundreds of dollars) of these cars. Age 7 8 4 3 7 2 7 Price 44 29 24 52 71 28 73 28 Find the regression line equation in the form ý = a + bx. Use "Age" as the independent variable and "Price" as the dependent %3D variable. Round your answers to four decimal places. i +( i eTextbook and Media Predict the price of a 5 year-old car of this model. Round your answer to one decimal place. i
Transcribed Image Text:An auto manufacturing company wanted to investigate how the price of one of its car models depreciates with age. The research department at the company took a sample of eight cars of this model and collected the following information on the ages (in years) and prices (in hundreds of dollars) of these cars. Age 7 8 4 3 7 2 7 Price 44 29 24 52 71 28 73 28 Find the regression line equation in the form ý = a + bx. Use "Age" as the independent variable and "Price" as the dependent %3D variable. Round your answers to four decimal places. i +( i eTextbook and Media Predict the price of a 5 year-old car of this model. Round your answer to one decimal place. i
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