Reference no: EM132202169

The Toyota Camry is one of the best-selling cars in North America. The cost of a previously owned Camry depends upon many factors, including the model year, mileage, and condition. To investigate the relationship between the car's mileage and the sales price for a 2007 model year Camry, the following data show the mileage and sales price for 19 sales (PriceHub website, February 24, 2012). Suppose that you are considering purchasing a previously owned 2007 Camry that has been driven 60,000 miles. What price you would offer to the seller and why?

Miles (1000s) Price ($1000s)

22 16.2

29 16

36 13.8

47 11.5

63 12.5

77 12.9

73 11.2

87 13

92 11.8

101 10.8

110 8.3

28 12.5

59 11.1

68 15

68 12.2

91 13

42 15.6

65 12.7

110 8.3