Improving trees In the last exercise you saw that the
Chapter 9, Problem 3RE(choose chapter or problem)
Here are the scatterplot and regression analysis for Case Prices of 36 wines from vineyards in the Finger Lakes region of New York State and the Ages of the vineyards. (Data in Vineyards full):
\(\begin{array}{l}\text{Dependent variable is Case Price}\\ \text{R-squared } =2.7 \%\\ \begin{array}{lc}\text { Variable } & \text { Coefficient } \\ \text { Constant } & 92.7650 \\ \text { Age } & 0.567284\end{array}\end{array}\)
a) Does it appear that vineyards in business longer get higher prices for their wines? Explain.
b) What does this analysis tell us about vineyards in the rest of the world?
c) Write the regression equation.
d) Explain why that equation is essentially useless.
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