The Excel file shows a portion of data consisting of the selling price, the age, and
the mileage for 20 used sedans.
a) Estimate the sample regression equation that enables us to predict the price
of a sedan on the basis of its age and mileage.
b) Interpret the slope coefficient of Age.
c) Interpret the slope coefficient of Mileage.
d) Predict the selling price of a five-year-old sedan with 65,000 miles
Price Age Miles
13590 6 61485
13775 6 54344
22991 1 8246
15303 4 24856
16388 3 22100
16600 3 23702
16987 4 47401
18489 2 16888
18859 3 35380
19857 3 29634
11877 9 55792
14989 3 46183
15900 3 37009
16500 4 45521
9440 9 86902
12988 5 77241
15777 6 59647
10490 9 93241
8938 10 48221
11988 8 42408
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