A study was conducted to investigate the relationship between the resale price, y (in hundreds of dollars), and the age, x (in years), of midsize luxury American automobiles. The equation of the line of best fit was determined below.
y = 179.3 − 20.78x
(a) Find the resale value in dollars of such a car when it is 3 years old.
$
(b) Find the resale value in dollars of such a car when it is 6 years old.
$
(c) What is the average annual decrease in the resale price in dollars of these cars?
1 answer