Depreciation The following data represent the asking price, y, and age, x, of a Chevrolet Impala

(a) Determine the linear least-squares regression line, treating age as the explanatory variable. Plot the residuals against the explanatory variable, age. Do you believe the relation between age and asking price is linear? Why?

(b) Determine the exponential equation of best fit, treating age as the explanatory variable. Plot the residuals against the explanatory variable, age. Do you believe the relation between time and asking price is exponential? Why?

(c) Which model better explains the variation in asking price?