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Following are age and price data for 8 randomly selected ambulances between 1 and 6 years old. Here, x denotes age, in years, and y denotes price, in hundreds of dollars. Use the information to complete parts (a) through () 6 y 280 400 275 360 255 365 325 300 a. Find the regression equation for the data points. (Round to two decimal places as needed.)

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Answer #1

RLanguage YourCode 1X <- c(6,1,6,2,6,2,4,5) 2 y <- c(290,400,275,360,255,365,325,300) 3 summary(lm(y-x))Call: lm(formula y - x) Residuals: Max -18.917 -4.833 1.750 4.750 16.083 Min 1Q Median Coefficients: Estimate Std. Error t value Pr(>|t|) 9.276 44.84 8.24e-09 2.08711.34 2.82e-05 (Intercept) 415.917 23.667 Signif. codes: 0 *** 0.001** 0.01* 0.05. 0.1 1 Residual standard error 11.43 on 6 degrees of freedom Multiple R-squared: 0.9554, F-statistic: 128.6 on 1 and 6 DF Adjusted R-squared: 0.948 , p-value: 2.817e-05

Thus the answer is:

y = 415.92 - 23.67 x

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