A car dealer wants to estimate the price of a used car based on the age of the car and the mileage. Based on a sample of 20 cars, she determines the sample regression equation that predicts price...


A car dealer wants to estimate the price of a used car based on the age of the car and the mileage. Based on a sample of 20 cars, she determines the sample regression equation that predicts price taxes on the basis of the age (in years) of the number of miles is


Price=21,619-1022Age-0.03 Miles


(a) If the age of the car was fixed and the mileage was increased by 10,000, how muchwould the price increase or decrease andby how much?


(b) Predict the selling price of a five-year-old car with 65,000 miles. (Round your answers to the nearest whole number.)



Jun 08, 2022
SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here