Following are age and price data for 8 randomly selected ambulances between 1 and 6 years old. Here, x denotes age, in years, and y denotes price, in hundreds of dollars. Use the information to do parts (a) through (d).
x y
6 280
1 390
6 275
2 350
2 265
4 370
5 325
295
$\sum x = 32$, $\sum y = 2550$, $\sum xy = 9525$, $\sum x^2 = 158$, $\sum y^2 = 828400$
a. Compute SST, SSR, and SSE, using the formulas, $SST = \sum y_i^2 - (\sum y_i)^2 / n$, $SSR = \frac{(\sum x_i y_i - (\sum x_i)(\sum y_i)/n)^2}{\sum x_i^2 - (\sum x_i)^2/n}$, and SSE = SST - SSR.
SST = 15587.5 (Round to two decimal places as needed.)
SSR = 15187.5 (Round to two decimal places as needed.)
SSE = 400 (Round to two decimal places as needed.)
b. Compute the coefficient of determination, $r^2$.
$r^2 = \text{____}$ (Round to four decimal places as needed.)