Listed below are the price quotations on an Internet site for a midsize foreign used car along with their age and odometer mileage.

Perform a multiple regression analysis of these data. In particular
(a) Determine the equation for predicting the price from age and mileage. Interpret the meaning of the coefficients 0, and 02.
(b) Give 95% confidence intervals for 0, and 02.
(c) Obtain R2 and interpret the result.

Transcribed Image Text:

Mileage x Age years)x(thousand miles) (thousand of dollars) Price y 27.9 23.0 21.6 20.9 20.0 18.5 17.6 17.0 15.5 9.5 9 27 32 34 48 54 6 80 122