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 11 12.1 2 8 10.5 3 14 5.7 4 17 4.9 5 9 5.0 6 8 13.4 7 10 10.5 8 14 9.0 9 13 9.0 10 17 4.5 11 6 12.5 12 6 11.5 Click here for the Excel Data File a. Determine the regression equation. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) a= b= Estimate the selling price of an 7-year-old car (in $000). (Round your answer to 3 decimal places.) Interpret the regression equation (in dollars). (Round your answer to the nearest dollar amount.)

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 11 12.1 2 8 10.5 3 14 5.7 4 17 4.9 5 9 5.0 6 8 13.4 7 10 10.5 8 14 9.0 9 13 9.0 10 17 4.5 11 6 12.5 12 6 11.5 Click here for the Excel Data File a. Determine the regression equation. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) a= b= Estimate the selling price of an 7-year-old car (in $000). (Round your answer to 3 decimal places.) Interpret the regression equation (in dollars). (Round your answer to the nearest dollar amount.)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.4: Distributions Of Data

Problem 19PFA

See similar textbooks

Car	Age (years)	Selling Price ($000)
1	11	12.1
2	8	10.5
3	14	5.7
4	17	4.9
5	9	5.0
6	8	13.4
7	10	10.5
8	14	9.0
9	13	9.0
10	17	4.5
11	6	12.5
12	6	11.5