A company that manufacturers wooden products (e.g. garden furniture, ladders, benches) regularly maintains its lathe machines, which are used for cutting and shaping The manager would like to know whether the cost of machine maintenance is related to the age of the machines. For a random sample of 12 lathe machines in the company’s factory, the annual maintenance cost (in R100s) and age of each machine was recorded. Machine Age (years) Annual cost (Rand) 1 4 45 2 3 20 3 3 38 4 8 65 5 6 58 6 7 50 7 1 16 8 1 22 9 5 38 19 2 26 11 4 30 12 6 35 Identify the independent variable and the dependent Show the data graphically in a scatter plot. What relationship is observed? Calculate the correlation coefficient between the age of lathe machines and their annual maintenance costs. Comment on the strength of the Is the correlation statistically significant? Test at the 5% significance level. What conclusion can be drawn? Use the method of least squares to find the best fitting line between the age of lathe machines and their annual maintenance Interpret the meaning of the regression coefficient (b1) of the independent What is the expected average maintenance cost of a lathe machine that is five years old?

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A company that manufacturers wooden products (e.g. garden furniture, ladders, benches) regularly maintains its lathe machines, which are used for cutting and shaping The manager would like to know whether the cost of machine maintenance is related to the age of the machines. For a random sample of 12 lathe machines in the company’s factory, the annual maintenance cost (in R100s) and age of each machine was recorded.

Machine	Age (years)	Annual cost (Rand)
1	4	45
2	3	20
3	3	38
4	8	65
5	6	58
6	7	50
7	1	16
8	1	22
9	5	38
19	2	26
11	4	30
12	6	35

Identify the independent variable and the dependent
Show the data graphically in a scatter plot. What relationship is observed?
Calculate the correlation coefficient between the age of lathe machines and their annual maintenance costs. Comment on the strength of the
Is the correlation statistically significant? Test at the 5% significance level. What conclusion can be drawn?
Use the method of least squares to find the best fitting line between the age of lathe machines and their annual maintenance
Interpret the meaning of the regression coefficient (b1) of the independent
What is the expected average maintenance cost of a lathe machine that is five years old?

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