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  3. we consider a population of cars from a given mode

We consider a population of cars from a given model year. A sample of 24 such...

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Basic Math

We consider a population of cars from a given model year. Asample of 24 such cars

has been recently sold. The sale price as a function of the ageof the car is in the Excel

file S4.XLSX (Car) in the Excel directory.

a. Try a linear regression and an exponential (non-linear)regression with Excel to

fit these data. Comment your results.

b. Which regression model seems to fit the data better andwhy?

c. Run the LINEST function in Excel. Provide the resulttable.

Car sale price
Age (year)Price ($)
1119400
373200
551000
291800
836600
2102000
373800
1120600
642600
739600
461800
831200
548600
1126000
552800
370200
643200
653400
740800
463400
736000
833000
464800
293000

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