Price data for 10 used cars from well-known brands

Age of the car (years)	1	2	3	4	5	6	7	8	9	10
The distance traveled (thousand km)	8,1	17,0	12,6	18,4	19,5	29,2	40,4	51,6	62,6	80,1
Price (a hundred million)	5,4	4,8	5,0	4,0	3,7	3,2	3,2	2,7	1,9	1,5

Please use multiple regression analysis for
1. Determine the regression model for car prices using mileage and age variables.
2. Determine model testing with 2 types of testing.
3. Determine R^2 (coefficient determination) and explain what it means.
4. Provide an interpretation of the coefficient of the two independent variables.

Answer rating: 100% (QA)

1 Regression Model The regression model is derived by using MS Excels Data Analysis function Enter t... View the full answer