No. 3: The owner of Maumee Ford-Mercury 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 1 2 3 4 5 6 7 8 Age (years) 9 7 11 12 8 7 8.0 11 Selling Price ($000) 8.1 6.0 3.6 4.0 5.0 10 7.6 8.0 a) If we want to estimate selling price on the basis of the age of the car, which variable is the dependent variable and which is the independent variable? Also estimate regression line b) Draw a scatter diagram. c) Determine the coefficient of correlation. d) Interpret these statistics. Does it surprise you that the relationship is inverse?

First, think of what you know. you know that the number t the end of the equation will need to be subtracted because it is the money he lost from buying the lawn mower. and your first two weeks have negative profit, so that tells you that c and d are wrong. now you can plug any of the weeks into a and b to see which one works. i'll start with plugging week 1 into a.this isn't right because it says your answer for week one should be -90.so now we need to try the same thing with b.this one got you the right answer, (sometimes if you only check with one of the weeks multiple will work so you need to check with more of the weeks, but it worked out fine here)this means that b is the correct answer.let me know if you need more clarification. i hope this : )