The Toyota Camry is one of the best-selling cars in North America. The cost of a previously owned Camry depends on many factors, including themodel year, mileage, and condition. To investigate the relationship between the car's mileage and the sales price for Camrys, the following datashow the mileage and sale price for 19 sales (PriceHub web site, February 24, 2012).DATA fileMiles (1,000s)Price ($1,000s)2216.22916.03613.84711.56312.57712.97311.28713.09211.810110.81108.32812.55911.16815.06812.29113.04215.66512.71108.3 (d) How much of the variation in the sample values of price does the model estimated in part (b) explain?If required, round your answer to two decimal places.53.86(e) For the model estimated in part (b), calculate the predicted price and residual for each automobile in the data. Identify the two automobiles that were thebiggest bargains.If required, round your answer to the nearest whole number.The best bargain is the Camry #12in the data set, which has14.82miles, and sells for $14.82less than itspredicted price.The second best bargain is the Camry #4in the data set, which has14.82miles, and sells for $14.82lessthan its predicted price.(f) Suppose that you are considering purchasing a previously owned Camry that has been driven 50,000 miles. Use the estimated regression equationdeveloped in part (b) to predict the price for this car.If required, round your answer to one decimal place. Do not round intermediate calculations.Predicted price: $14149Is this the price you would offer the seller?YesExplain.

Given: Miles (1000s) Price (1000 s) 22 16.2 29 16 36 13.8 47 11.5 63 12.5 77 12.9…

The Toyota Camry is one of the best-selling cars in North America. The cost of a previously owned Camry depends on many factors, including the model year, mileage, and condition. To investigate the relationship between the car's mileage and the sales price for Camrys, the following data show the mileage and sale price for 19 sales (PriceHub web site, February 24, 2012). DATA file