Question: A response variable, Price, is defined as the selling price of a used car. Three predictor variables include, Age, the age of the car in

A response variable,

Price,

is defined as the selling price of a used car. Three

predictor variables include,

Age,

the age of the car in years,

Mileage,

the

mileage of the car in thousands of miles, and

Cylinders,

the number of

engine cylinders. The estimated regression equation is:

Price

= 10,000 -

1800

Age

- 50

Mileage

+ 1200

Cylinders.

By how much will the price be reduced for each additional 10,000 miles on the car?

Can you explain how the answer is 500 or -500?

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