How well does a cars age predict its resale value?Below is sample date for a particular make and model of vehicle, comparing its age (in years) to its resale value.Based on the data , answer the questions below:

Age (years)

Price ($)

9

10200

6

7000

3

10200

3

17200

10

7800

7

8000

3

12200

5

15800

2

18600

5

17800

4

10200

6

7400

4

15800

9

4200

6

7400

5

11400

7

8000

11

4400

8

3200

2

19600

1) What is the value of the correlation coefficient?(CAREFUL:EXCEL'S REGRESSION FUNCTION WILL NOT LET YOU KNOW WHETHER OR NOT THIS VALUE IS NEGATIVE)(ANSWER TO 2 DECIMAL PLACES)

2) What is the value of the coefficient of determination?(ANSWER TO 2 DECIMAL PLACES)

3) State the estimated regression equation.(ANSWER ONLY THE VALUE AFTER THE EQUAL SIGN WITH VARIABLES TO 0 DECIMAL PLACES.FOR EXAMPLE IF THE EQUATION IS: y = 12,345.67x + 98,765.43...YOUR ANSWER IS: 12,346x + 98,765)

4) Predict the resale value of a vehicle that is 7 years old.(ANSWER TO 0 DECIMAL PLACES...INCLUDE UNITS WITH ANSWER)

Question 2 options:

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