Q8 Jensen Tire & Auto is in the process of deciding whether to purchase a maintenance contract for its new computer wheel alignment and balancing machine.Managers feel that maintenance expense should be related to usage, and they collected the following information on weekly usage (hours) and annualmaintenance expense (in hundreds of dollars).Weekly UsageAnnual(hours)Maintenance Expense1620132523333140355020342736344243554143a. Develop the estimated regression equation that relates annual maintenance expense (in hundreds of dollars) to weekly usage hours (to 3 decimals).Expense+Weekly Usageb. Test the significance of the relationship in part (a) at a 0.05 level of significance.Compute the value of the F test statistic (to 2 decimals).Thevalue is less than 0.01What is your conclusion?Conclude that there is a significant relationship between expense and weekly usagec. Jensen expects the new machine to be used 30 hours per week. What is the expected annual maintenance expense in hundreds of dollars (to 2 decimals)?hundredDevelop a 95% prediction interval for the company's annual maintenance expense for this machine (to 2 decimals).( $hundred, $hundred )

Name: Q8 Jensen Tire & Auto is in the process of deciding whether to purchas
Uploaded: 2024-03-20T07:06:41.000Z
Channel: Bartleby
Description: Q8 Jensen Tire & Auto is in the process of deciding whether to purchase a maintenance contract for its new computer wheel alignment and balancing machine.Managers feel that maintenance expense should be related to usage, and they collected the follow