CarsRevenueCompany(1,000s) ($ millions)Company A11.5120Company B10.0133Company C9.0102Company D5.537Company E4.242Company F3.334(a) Develop a scatter diagram with the number of cars in service as the independent variable.160-160160160-140140140140-120-120120120100100100100808080806060606040...4040..402020202024681012140 20 24 6 84 6 84 6 8101214101214101214Cars in Service (1,000s)Cars in Service (1,000s)Cars in Service (1,000s)Cars in Service (1,000s)(b) What does the scatter diagram developed in part (a) indicate about the relationship between the two variables?O There appears to be no noticeable relationship between cars in service (1,000s) and annual revenue ($ millions).O There appears to be a positive linear relationship between cars in service (1,000s) and annualrevenue ($ millions).O There appears to be a negative linear relationship between cars in service (1,000s) and annualrevenue ($ millions).(c) Use the least squares method to develop the estimated regression equation that can be used to predict annual revenue (in $ millions) given the number of cars in service (in 1,000s). (Round your numerical values to three decimal places.)ý = -15.045 + 12.834x(d) For every additional car placed in service, estimate how much annual revenue will change (in dollars). (Round your answer to the nearest integer.)Annual revenue will increase by $12 x, for every additional car placed in service.(e) A particular rental company has 6,000 cars in service. Use the estimated regression equation developed in part (c) to predict annual revenue (in $ millions) for this company. (Round your answer to the nearest integer.)$ 76989x millionAnnual Revenue ($ millions)Annual Revenue ($ millions)

The regression equation is given by y^ = -15.045 + 12.834x Amount increases for every additional…

(c) Use the least squares method to develop the estimated regression equation that can be used to predict annual revenue (in $ millions) given the number of cars in service (in 1,000s). (Round your numerical values to three decimal places.) ý = -15.045 + 12.834x (d) For every additional car placed in service, estimate how much annual revenue will change (in dollars). (Round your answer to the nearest integer.) Annual revenue will increase by $12 x ,for every additional car placed in service. (e) A particular rental company has 6,000 cars in service. Use the estimated regression equation developed in part (c) to predict annual revenue (in $ millions) for this company. (Round your answer to the nearest integer.)

(c) Use the least squares method to develop the estimated regression equation that can be used to predict annual revenue (in $ millions) given the number of cars in service (in 1,000s). (Round your numerical values to three decimal places.) ý = -15.045 + 12.834x (d) For every additional car placed in service, estimate how much annual revenue will change (in dollars). (Round your answer to the nearest integer.) Annual revenue will increase by $12 x ,for every additional car placed in service. (e) A particular rental company has 6,000 cars in service. Use the estimated regression equation developed in part (c) to predict annual revenue (in $ millions) for this company. (Round your answer to the nearest integer.)

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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