Answer :
(a) The scatter diagram indicates a nonlinear relationship between age and price.
The scatter diagram is a visual representation of the relationship between two variables, in this case, age and price. By plotting the data points on a graph, we can observe the pattern or trend between the variables. In this particular scatter diagram, we see that the points do not fall in a straight line, indicating a nonlinear relationship.
(b) When examining the scatter diagram developed in part (a), we can observe that the points are not arranged in a clear linear pattern. There is no evident upward or downward trend, suggesting that there is no positive or negative linear relationship between age and price. Instead, the points are scattered in a way that does not conform to a straight line. This indicates a nonlinear relationship between age and price, where changes in age do not correspond to consistent or predictable changes in price.
(c) Without further information or analysis, it is not possible to develop the least squares estimated regression equation. The scatter diagram's indication of a nonlinear relationship implies that a linear regression model may not accurately represent the data. To explore the relationship between age and price more accurately, alternative regression models or nonlinear regression techniques may need to be considered.
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