Car Age (years) Selling Price (5000) 1 13 12.9 2 9 11.7 3 13 4.4 4 15 3.7 5 11 7.3 6 9 14.2 7 12 9.3 8 13 9.8 9 13 9.8 10 15 3.4 11 7 10.8 12 7 9.8 pictureClick 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 = b. Estimate the selling price of an 8-year-old car (in $000). (Round your answer to 3 decimal places.) Selling price c. Interpret the regression equation (in dollars). (Round your answer to the nearest dollar amount.) For each additional year, the car decreases in value.

Car Age (years) Selling Price (5000) 1 13 12.9 2 9 11.7 3 13 4.4 4 15 3.7 5 11 7.3 6 9 14.2 7 12 9.3 8 13 9.8 9 13 9.8 10 15 3.4 11 7 10.8 12 7 9.8 pictureClick 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 = b. Estimate the selling price of an 8-year-old car (in $000). (Round your answer to 3 decimal places.) Selling price c. Interpret the regression equation (in dollars). (Round your answer to the nearest dollar amount.) For each additional year, the car decreases in value.

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

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter4: Equations Of Linear Functions

Section4.6: Regression And Median-fit Lines

Problem 17HP

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