Bargain Rental Car wants to better understand the variable and fixed portions of its car washing costs. The companyoperates its own car wash facility that cleans each rental car before releasing it to another customer. Managementbelieves the variable portion of its car washing costs relates to the number of rental returns. Accordingly, the followingdata have been compiled:MonthJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecemberRentalReturns2,4002,5002,8003,1003,7005,1005,6005,600Fixed cost per monthVariable cost per rental return4,7004,1002,2002,900Exercise 5A-2 Part 2 (Algo)Car Wash Costs$ 11,300$ 13,300$ 12,100$ 14,700$ 16,500$ 23,900$ 22,500$ 22,900$ 23,100$ 22,000$ 11,000$ 15,3002. Using least-squares regression, estimate the variable cost per rental return and the monthly fixed cost incurred to wash cars.Note: Round Fixed cost to the nearest whole dollar amount and the Variable cost per unit to 2 decimal places.

Bargain Rental Car wants to better understand the variable and fixed portions of its car washing…

Answered: Bargain Rental Car wants to better…

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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Companies in the U.S. car rental market vary greatly in terms of the size of the fleet, the number of locations, and annual revenue. In 2011, Hertz had 320,000 cars in service and annual revenue of approximately $4.2 billion. Suppose the following data show the number of cars in service (1,000s) and the annual revenue ($ millions) for six smaller car rental companies. Cars Revenue Company (1,000s) ($ millions) Company A 11.5 120 Company B 10.0 137 Company C 9.0 102 Company D 5.5 39 Company E 4.2 40 Company F 3.3 30 (a) Develop a scatter diagram with the number of cars in service as the independent variable. 160 T 160- 1601 140 140 140 120- E 120- 120- 100 100 100- 80 80 80 CO 60 60 60 40 40 40 20 20 20- 6 8 10 12 14 4 6 8 10 12 14 Cars in Service (1,000s). ● 4 6 8 10 12 14 Cars in Service (1,000) 4 Cars in Service (1,000) Ⓡ 0 4 6 8 10 14 O Cars in Service (1,000) (b) What does the scatter diagram developed in part (a) indicate about the relationship between the two variables? O There…
Compare the primary types of forecasting methods used to determine demand.
Using the actual sales (in units) over the past 15 months, a demand planner at a leading e-commerce firm has forecasted the demand for a popular consumer product as shown below. Forecast 1 and Forecast 2 represent the outputs of two comparative forecasting methods currently used by the sales and marketing, and operations departments of the firm. Month October 22 November 22 December 22 January 23 February 23 March 23 April 23 May 23 June 23 July 23 August 23 September 23 October 23 November 23 December 23 Actual sales (units) 120 000 138 000 172 000 120 000 114 000 98 000 118 000 112 000 132 000 138 000 108 000 126 000 144 000 162 000 189 000 QUESTION 24 Determine the mean absolute deviation of Forecast 1. A 234 290 units a 18 721 units c 19 524 units 22 670 units QUESTION 25 Determine the mean absolute deviation of Forecast 2. A 21 638 units a 35 280 units c. 19 330 units 23 600 units Forecast 1 (units) 133 280 130 620 127 300 121 440 120 750 119 000 121 600 124 900 121 500 122400 126…
Year, x 2009, 0 2010, 1 2011, 2 2012, 3 2013, 4 2014, 5 Average Monthly Cost to Workers for Family Health Insurance $296 338 348 362 384 404
Briefly explain how the organization forecast sales for its products.a. Using historical sales data, choose a quantitative technique to forecast sales for thatorganisation for the next sales period. Comment on the appropriateness of thetechnique used.b. Describe three strategies that the organization uses to compete and comment on theappropriateness of these strategies
Identify several types of manufacturing companies for which process costing would be an appropriate product-costing system. What characteristics do the products of these companies have that would make process costing a good choice? How is process costing similar and different in a second or later processing department?
Opinions are split about a coffee company's pumpkin-flavored coffee (PFC). Yet every year over the last five years the consumption of pumpkin-flavored goods has increased. If we look at the numbers, it also becomes clear why a leading coffee company keeps offering the PFC earlier and earlier every year. According to a magazine, the amount spent by PFC buyers at the coffee company is about 17% higher than non-PFC buyers. The accompanying table shows a random sample of eight consumers, the amount they spend per week, and the number of PFCs purchased per week. PFC Spending 2 13.88 7 39.11 4 19.79 1 9.84 3 15.43 1 21.52 5 37.39 3 13.85 Calculate the slope and y-intercept for the regression formula. The slope is b1=(Round to three decimal places as needed.)
The marketing manager of "ABC Tapes" wants to assess the competitiveness of the company's product in the market. Table 1 represents the prices and quantities of blank cassette tapes sold in January 2016 and January 2020. TABLE 1 2016 2020 Length of tapes Price Quantity Price Quantity 30 minutes R 4.00 32 R 5.60 40 60 minutes R 4 30 150 R 6.15 190 90 minutes R 4.60 100 R 7.40 130 Using 2016 as base and calculate for 2020 the following: Determine the Laspeyres price index: a) 149.492 Ob) 149.367 Oc) 66.949 d) 66.893
Opinions are split about a coffee company's pumpkin-flavored coffee (PFC). Yet every year over the last five years the consumption of pumpkin-flavored goods has increased. If we look at the numbers, it also becomes clear why a leading coffee company keeps offering the PFC earlier and earlier every year. According to a magazine, the amount spent by PFC buyers at the coffee company is about 17% higher than non-PFC buyers. The accompanying table shows a random sample of eight consumers, the amount they spend per week, and the number of PFCs purchased per week. PFC Spending 2 13.88 7 39.11 4 19.79 1 9.84 3 15.43 1 21.52 5 37.39 3 13.85 The slope is b1=4.465 The y-intercept is b0=6.840 Because the slope is positive, it can be concluded that one extra PFC purchase per week will increase the average amount of spending per week by 4.46 dollars. Predict…
3. SJS Company has been selling to retail customers in the Metro Manila area. It advertises extensively on radio, print ads, and the Internet. The owner would like to review the relationship between the amount spent on advertising expenses (in Php000s) and sales (in Php000s). Below is the information on advertising expenses and sales for the last nine (9) months of 2019. Month April May June July Aug Sept Oct Nov Dec Advertising Expense Sales 10 14 12 13 15 8 13 16 180 170 190 220 235 208 215 175 250 Revenue a. Find the coefficient of correlation. b. Create a scatter diagram based on the data.
An entrepreneur who owns and operates two businesses (A and B) would like to analyze their profitability. They would like your help in the analysis. They give you the annual net profit (in thousands of $) for each business from 2008-2020. Table 1: Annual Net Profits for Businesses A and B Business Year Profit Business Year Profit 2008 -50 2008 -10 2009 57 2009 30 2010 71 2010 27 2011 64 2011 22 2012 60 2012 21 2013 50 2013 20 A 2014 41 2014 24 2015 59 2015 24 2016 71 2016 32 2017 71 2017 36 2018 74 2018 37 019 81 20 40 2020 97 2020 49 a. Suppose you want to graph the distribution of profits. Explain why using only one stem- plot might not be optimal for the analysis. b. Describe the correct stemplot to use. Generate this stemplot. Explain your steps. What can you say about the distribution from this stemplot? c. When are stemplots useful? And why is that? d. Suppose that instead of having 26 observations you have 200 observations. What graph should you generate? e. What other type of…
The director of surgery at a local hospital is interested in understanding his unit’s costs. An assistant collected data for the past 36 months on unit cost (labor, supplies, and so on) along with the number of procedures performed in the unit. The assistant analyzed the data using a spreadsheet program, and the following output was generated. Equation Intercept $ 1,006,000 Coefficient on procedures $ 230 Statistical data Correlation coefficient 0.518 R2 0.268 The unit is planning to perform an average 18,5000 procedures per month for the coming year. Required A: Use the regression output to write the surgical unit cost equation. Surgical unit cost = ____________ + __________ x Procedures Required B: Based on the cost equation,…

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