PROBLEMSConsider the data set in Table 11.3.1, representing the ages (in years) and maintenance costs(in thousands of dollars per year) for five similar printing presses.a. Draw a scatterplot of this data set. What kind of relationship do you see?b. Find the correlation between age and maintenance cost. What do you learn from it?c. Find the least-squares regression equation that predicts maintenance cost from the age ofthe machine. Draw this line on a scatterplot of the data.1d. What would you expect the annual maintenance to be for a press that is seven years old?e. What is a typical size for the prediction errors?f. How much of the variation in maintenance cost can be attributed to the fact that somepresses are older than others?g. Does age explain a significant amount of the variation in maintenance cost? How do youknow?h. Your conservative associate has suggested that you use $20,000 for planning purposes asthe extra annual maintenance cost per additional year of life for each machine. Perform ahypothesis test at the 5% level to see if the extra annual cost is significantly different fromyour associate's suggestion.TABLE 11.3.1|Age25938Maintenance Cost6335261322

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Answered: Consider the data set in Table 11.3.1,…

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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