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2. Use the data below to do a 3 year and 5 year moving average. Explain what happens to the data. M m 1996 92.00 1997 101.00 1998 112.00 1999 124.00 2000 135.00 2001 149.00 2002 163.00 2003 180.00 1. The owner of Lakewood Fordl'v'lercur'yr wants to look at the relationship between the age of a car and its selling price. The data is below. (I) (3') E age [Years] Selling Price @001 1 9 8.1 I" 6.0 2 3 11 3.6 4 12 4.0 5 8 5.0 6 T 10.0 7 8 7.6 8 11 8.0 9 10 8.0 10 12 6.0 11 6 8.6 12 6 8.0 a. Calculate "a" and "b" to nd the equation of the leastsquares line [regression line). b. if the car was brand new (0 years old), what is the forcasted selling price? c. Draw the regression line {label each axis using the variable names, insert the numerical vaiues for "a" and "b" on the graph. d. Calculate the correlation coefcient ( r) to 4 places atter the decimal. Interpret the meaning of your calculated rvalue using the variable names. e. Calculate the coefcient of determination (r2) to 4 places after the decimal. Interpret the meaning of your calculated r2 using the variable names. f. Is the age of a car a good predictor of its selling price? Index Numbers Problem Nominal 2000 =100 2005 = 100 Real Purchasing Current $ Price Price Constant $ Power Year Earnings Index Index Earnings of $1 2003 5 1.096 131.7 2004 S 1.194 139.3 2005 1,314 149.1 2006 1.474 162.5 2007 1,650 179.0 Growth Rate in Real Earnings (2005 = 100) between 2003 and 2007? 2000=100 Spliced Year Index #1 Index #1 Index #2 Factor Index 1998 100 1999 116.2 2000 124.5 2001 142.7 174.3 2002 192.4 X 2003 205.7 2004 239.2 X