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\(\pi\)
e
\(\frac{a}{b}\)
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\(\sqrt{\,}\)
\(a^{b}\)
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\(\div\)
log
ln
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\(\times\)
cos
cos⁻¹
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sin
sin⁻¹
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tan
tan⁻¹
A car dealership tracks the age of a specific car model (\(x\)) in years and its resale value (\(V\)) in thousands of dollars.
Age (\(x\))
1
2
3
5
6
8
Value (\(V\))
25
22
19
14
12
7
Write down the equation of the regression line of \(V\) on \(x\) in the form \(V = ax + b\) using a calculator.
Interpret the value of \(a\) in the context of the problem.
Calculate the coefficient of determination, \(r^2\), and explain what it indicates.
Estimate the value of a car that is 4 years old.
Comment on the validity of using this model to estimate the value of a car that is 15 years old.
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