##### find the linear regression model of the plot of age of car and value

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a.      Find a linear regression model that best fits this data using Excel.  Write it in the form . (Round and  to two decimal places.)

 0 22030 1 19286 2 17040 3 15557 4 14200 5 12564 6 10896 7 9885 8 9030 9 8524
Apr 29th, 2015

From Excel, the linear regression model that best fits the data  (so, an equation that gives the value of the car, y, as a function of its age, x) is:

y = -1483.27x + 20,575.93

The slope of the line (-1483.27) is negative, indicating that value of the car decreases by \$1483.27 for every 1 year increase in age. The y-intercept of the line is 20,575.93, which tells us that a new car (age of 0) is expected to have a value of \$20,575.93.

You can find this equation by putting the data into Excel, then highlighting the two columns of data and inserting a scatterplot into the spreadsheet. In editing the scatterplot, you can select the option to insert a linear regression line with the equation on the plot - you will get a picture that looks like the attached document.

Apr 29th, 2015

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Apr 29th, 2015
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Apr 29th, 2015
May 25th, 2017
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