The accompanying table shows a portion of data consisting of the selling price, the age. and the mileage for 20 used sedans. Price Age Miles
13,590 6 61,485
13,775 6 54,344
22,991 1 8,246
15,303 4 24,856
16,388 3 22,100
16,600 3 23,702
16,987 4 47,401
18,489 2 16,888
18,859 3 35,380
19,857 3 29,634
11,877 9 55,792
14,989 3 46,183
15,900 3 37,009
16,500 4 45,521
9,440 9 86,902
12,988 5 77,241
15,777 6 59,647
10,490 9 93,241
8,938 10 48,221
11,988 8 42,408

a. Determine the sample regression equation that enables us to predict the price of a sedan based on its age and mileage.
b. Interpret the slope coefficient of Age.

1 The slope coefficient of Age is -0.03, which suggests that for every additional year of age, the predicted price of a car decreases by $0.03.
2. The slope coefficient of Age is -1021.82, which suggests that for every additional year of age, the predicted price of a car decreases by $1021.82.
3. The slope coefficient of Age is-1021.82, which suggests that for every additional year of age, the predicted price of a car decreases by $1021.82, holding the number of miles constant.
4. The slope coefficient of Age is -0.03, which suggests that for every additional year of age, the predicted price of a car decreases by $0.03, holding the number of miles constant.

c. Predict the selling price of a five-year-old sedan with 65,000 miles.