An antiques dealer is interested in factors that might influ

An antiques dealer is interested in factors that might influence the final selling price of grandfather clocks at auction. Her data (from 32 previously auctioned clocks) includes the age of the clock (Age), the number of bidders (Bidders) at the auction, and the final selling price (Y) of the clocks.

What is the estimated selling price of a clock that is 268 years old and with 8 bidders, to two decimal places? Use two (2) decimal places for each number in the calculation.

Solution

As

selling price = -1337.722052 + 12.73619884*age + 85.8151326*bidders

As age = 268, bidders = 8

selling price = -1337.72 + 12.74*268 + 85.82*8

selling price = 2763.16 [ANSWER]