Question: Could you help me solve these problems? Thank you very much! Imagine you run a small auction house selling antiques, and before you make your

Could you help me solve these problems? Thank you very much!

Imagine you run a small auction house selling antiques, and before you make your next trip to purchase inventory for auction, you want to use your past sales to help you buy the antiques likely to sell for the highest prices. You run a regression using your sales history to find how well item age predicts sales prices, and estimate the best fitting equation as: y = 4.53x + 20 Where y is the predicted price at auction in dollars and x is the age of the item in years. At the first estate sale you stop at on your trip, you see items of the following ages. What does your regression model predict they will sell for at auction? 51 years old: $ 103 years old: $ 75 years old: $ 125 years old: $

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