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THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The manager of a used-car dealership is very interested in the resale price of used cars.The manager feels that the age of the car is important in determining the resale value.He collects data on the age and resale value of 15 cars and runs a regression analysis with the value of the car (in thousands of dollars) as the dependent variable and the age of the car (in years) as the independent variable.Unfortunately,the printout had lost some of the results,identified by"A" through"F".The partial results left are displayed below.
-Calculate the value of "E."
Book Value
The net value of a company's assets found on its balance sheet, calculated as total assets minus intangible assets and liabilities.
Accumulated Depreciation
The total depreciation charged over an asset's life, reducing its book value.
Trade-In Allowance
The amount of money a dealer subtracts from the price of a new item when you give them your old item as part of the payment.
Book Value
The value of an asset as it appears on the balance sheet, calculated by subtracting any associated depreciation or amortization from its original cost.
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