Question: please help me answer this question as soon as possible thanks Allen is considering buying a used car but he is concerned about the repair
please help me answer this question as soon as possible thanks


Allen is considering buying a used car but he is concerned about the repair costs. To investigate how repair cost is related to the age of a car, he has collected the following data: Repairs (y) Age (x) ($) (months) 327.67 110 376.68 113 392.52 114 443.14 134 342.62 93 476.16 141 324.74 112 338.98 114 433.45 110 526.37 142 362.42 96 448.76 139 335.27 89 350.94 93 291.81 91 467.80 109 474.48 138 354.15 83 420.11 100 416.04 137 Note: Round all of your numerical answers below to two decimal places.Note: Round all of your numerical answers below to two decimal places. (a) Fill out the blanks in the regression below that Allen has estimated based on the least squares approach: 1 = + X Age (2 marks) (b) Interpret the economic implication of the estimated coefficient on "Age" in Part (a). (1 mark) (c) The standard error of the estimate of the simple regression model is (1 mark) (d) The regression result indicates that age of the car (has or does not have) explanatory power for repair cost at the 5% significance level because the p-value of the coefficient is (less or greater) than 5%. (1 mark) (e) The regression result suggests that the model can explain % of the changes in repair cost. (1 mark)
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