(Solved): Price Age Mileage 13637 8 61518 13770 6 54394 22932 3 8220 15316 2 24880 16352 2 22121 16600 1 23713 ...

Price Age Mileage 13637 8 61518 13770 6 54394 22932 3 8220 15316 2 24880 16352 2 22121 16600 1 23713 16959 7 47440 18447 2 16856 18883 4 35406 19824 2 29617 11852 8 55787 14901 3 46172 15892 2 37018 16516 4 45452 9457 8 86938 12979 6 77269 15773 6 59621 10478 7 93201 8918 9 48295 11991 6 42364 Questions to answer: 1. Estimate the sample regression equation that enables us to predict the price of a sedan on the basis of its age and mileage Price = __ + __ Age + __ Miles 2. Interpret the slope coefficient of Age. (Choose the right answer) A. The slope coefficient of Age is −479.26, which suggests that for every additional year of age, the predicted price of car decreases by $479.26. B. The slope coefficient of Age is −0.08, which suggests that for every additional year of age, the predicted price of car decreases by $0.08. C. The slope coefficient of Age is −479.26, which suggests that for every additional year of age, the predicted price of car decreases by $479.26, holding number of miles constant. D. The slope coefficient of Age is −0.08, which suggests that for every additional year of age, the predicted price of car decreases by $0.08, holding number of miles constant. 3. Predict the price of a four-year old sedan with 67000 miles