The Kelley Blue Book provides information on wholesale and retail
The Kelley Blue Book provides information on wholesale and retail prices of cars. Following are age and price data for 10 randomly selected Corvettes between 1 and 6 years old. Here, x denotes age, in years, and y denotes price, in hundreds of dollars.
For each exercise here, discuss what satisfying Assumptions 1–3 for regression inferences by the variables under consideration would mean.
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