Data were collected on the age (in years) and price (in thousands of dollars) of a...

Transcribed Image Text:

Data were collected on the age (in years) and price (in thousands of dollars) of a random sample of 25 used Hyundai Elantras. A scatterplot of the data (with regression line) and computer output from a regression analysis are provided. The regression equation is Price = 15.3 - 1.71 Age Predictor Coef Age SE Coef T Constant 15.2912 0.5840 26.18 0.000 Age Fit -1.7126 0.1264 -13.55 0.000 S = 1.37179 R-Sq = 88.9% R-Sq(adj) = 88.4% Predicted Values for New Observations P SE Fit 95% CI 3 10.154 0.306 (9.520, 10.787) Is this a statistically significant linear relationship? 95% Pl (7.246, 13.061) Data were collected on the age (in years) and price (in thousands of dollars) of a random sample of 25 used Hyundai Elantras. A scatterplot of the data (with regression line) and computer output from a regression analysis are provided. The regression equation is Price = 15.3 - 1.71 Age Predictor Coef Age SE Coef T Constant 15.2912 0.5840 26.18 0.000 Age Fit -1.7126 0.1264 -13.55 0.000 S = 1.37179 R-Sq = 88.9% R-Sq(adj) = 88.4% Predicted Values for New Observations P SE Fit 95% CI 3 10.154 0.306 (9.520, 10.787) Is this a statistically significant linear relationship? 95% Pl (7.246, 13.061)