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The accompanying table shows a portion of data consisting of the selling price, the age and...

The accompanying table shows a portion of data consisting of the selling price, the age and the mileage for 20 used sedans.

Selling Price Age Miles
13638 6 61530
13714 8 54368
22949 3 8212
15286 7 24865
16376 2 22104
16580 2 23701
16913 2 47420
18427 3 16849
18880 4 35437
19887 2 29612
11847 6 55802
14943 1 46250
15920 4 37046
16544 3 45465
9491 8 86863
12905 7 77206
15775 5 59668
10522 7 93238
8907 10 48269
11919 7 42431

a. Determine the sample regression equation that enables us to predict the price of a sedan on the basis of its age and mileage. (Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.)[If you are using R to obtain the output, then first enter the following command at the prompt: options(scipen=10). This will ensure that the output is not in scientific notation.]

Price^ = ___________ + _________ Age + _________ Miles.

b. Predict the selling price of a eight -year-old sedan with 63,000 miles. (Round coefficient estimates to at least 4 decimal places and final answer to 2 decimal places.)

Price^ = $_________

math   Statistics-And-Probability   
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