Illustrate the regression model and predict it

Reference no: EM1316079

Estimate the regression model and predict it.

The following table shows the annual maintenance costs for several cars, as well as their age.

age of car	annual expenses ($)
1	100
2	375
2	325
3	455
3	520
4	485
4	530
5	595
5	515
6	700
6	800
7	1000
7	950

What would a regression model that relates maintenance costs (dependant variable) as a function of age (independent variable) predict the annual cost of maintaining an eight-year-old car to be?

Reference no: EM1316079

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