Hi, I need help with this stats question:

Category Inference method Are hypotheses formulated? Validation of assumptions Application of the inference procedure Plain language statement Organization Total Section 1 Question 1 {0.01 points) J Saved The following list of numbers give you the random input values for Question 2. Select the option with the answer "1" to continue. Question 2 (18 points) Classied ads in a newspaper offered several used cars of a certain brand for sale. The following data show the advertised prices in dollars and respective ages of the cars in years. Develop a model to predict the price of a car of this brand using the age of the car as a predictor. Provide an assessment of the validity, signicance and predictive power of your model. Provide condence intervals for key parameters and give their plain language interpretations (whereever applicable). Further, suppose that you own a car of this brand which has age 6 years, and you want to sell it quickly, so you wish to price it at a low price. Do you think 5000 dollars would be considered a low price? Explain your reasoning. Add a File Record Audio Record Video