In Exercises , formulate the linear or piecewise linear model for the real-life scenario....

In Exercises , formulate the linear or piecewise linear model for the real-life scenario. If a linear model represents a directly proportional Relationship between the independent and dependent variables, so state.

 Used Car Value In 2001, the average retail price of a 2000 Toyota Land Cruiser 4-Whecl Drive was $43,650. The average retail price of a 1995 Toyota Land Cruiser 4-Wheel Drive was $21,125. (Source: www.nadaguides.coin.)

(a) Find a linear model for the value of a Toyota Land Cruiser in 2001 as a function of its production year.

(b) Use your linear model to predict the value of a 1992 Toyota Land Cruiser in 2001.

(c) A 1992 Toyota Land Cruiser had an average retail price of $14,325 in 2001. How good was your linear model at predicting the value of the vehicle?