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Estimate the regression model and predict it.

The subsequent 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 relays maintenance costs (dependant variable) as a function of age (independent variable) forecast the annual cost of maintaining an eight-year-old car to be?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M923432

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