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) Car Age (years) Selling Price ($000)
1 9 8.1 7 8 7.6
2 7 6 8 11 8
3 11 3.6 9 10 8
4 12 4 10 12 6
5 8 5 11 6 8.6
6 7 10 12 6 8

Required:
a. Determine the regression equation.
b. Estimate the selling price of a 10-year-old car (in $000).
c. Interpret the regression equation (in dollars).