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 theycollected the following information on weekly usage (hours) and annual maintenance expense (in hundreds of dollars).Weekly UsageAnnual(hours)Maintenance Expense1522122722353042345219362638334442574045a. 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).The p value is - Select your answer -What is your conclusion?- Select your answerc. 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 )d. If the maintenance contract costs $3000 per year, would you recommend purchasing the contract for the new machine in part (c)? Why or why not?- Select your answer . Develop the estimated regression equation that relates annual maintenance expense (in hundreds of dollars) to weekly usage hours (to 3 decimals).Expense =Weekly Usage. 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).he p value is - Select your answer-- Select your answer-Vhat is your c less than 0.01between 0.01 and 0.025- Select your a between 0.025 and 0.05between 0.05 and 0.10. Jensen expe greater than 0.10used 30 hours per week. What is the expected annual maintenance expense in hundreds of dollars (to 2 decihundredevelop a 95% prediction interval for the company's annual maintenance expense for this machine (to 2 decimals).hundred, $hundred )1. If the maintenance contract costs $3000 per year, would you recommend purchasing the contract for the new machine in part (c)? Why or why not?- Select your answer -a. Developstimated regression equation that relates annual maintenancexpensehundreds ofars) to weekly usage hours (to 3 dExpense =+Weekly Usageb. Test the significance of the relationship in part (a) at a 0.05 level of significance.Compute the value of the F test statistic (to 2 decimals).The p value is - Select your answer -What is your conclusion?- Select your answer -- Select your answer -Do not conclude that there is a significant relationship between expense and weekly usageConclude that there is a significant relationship between expense and weekly usageannual maintenance expense in hundreds of dollarsThundredDevelop a 95% prediction interval for the company's annual maintenance expense for this machine (to 2 decimals).($hundred, $hundred )d. If the maintenance contract costs $3000 per year, would you recommend purchasing the contract for the new machine in part (c)? Why or- Select your answer -a. Deverop tne estimated regression equation that relates annual mantenance expense (in hunareas or dollars) to weekiy usage nours (to decimais).Expense =Weekly Usageb. Test the significance of the relationship in part (a) at a 0.05 level of significance.Compute the value of the F test statistic (to 2 decimals).The p value isSelect your answerWhat is your conclusion?- Select your answer -c. Jensen expects the new machine to be used 30 hours per week. What is the expected annual maintenance expense in hundreds of dollars (to 2 decimals)?hundredDevelop a 95% prediction interval for the company's annual maintenance expense for this machine (to 2 decimals).($hundred, $hundred )d. If the maintenance contract costs $3000 per year, would you recommend purchasing the contract for the new machine in part (c)? Why or why not?-Select your answer--Select your answer-No, the expected maintenance expense is less than $3000Yes, the expected maintenance expense is greater than $3000

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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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3.3 An electronics company is looking to develop a regression model to predict the number of units sold for a special running watch. Data is provided below Sales (units) Price ($) Advertising ($) Holiday 500 100 50 Yes 480 120 40 Yes 485 110 45 No 510 103 55 Yes 490 108 40 No 488 109 30 No 496 106 45 Yes (a) Determine the relationship between price and sales i.e. what is the effect of a unit change in price on sales and is it statistically significant? (b) Determine the relationship between advertising and sales i.e. what is the effect of a unit change in advertising on sales and is it statistically significant? (c) Determine the relationship between Holiday and sales i.e. what is the difference in sales between a holiday and a non-holiday and is it statistically significant? (c) Determine the relationship between Holiday and sales i.e. what is the difference in sales between a holiday and a non-holiday and is it statistically significant
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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 annual maintenance expense (in hundreds of dollars). Weekly Usage Annual (hours) Maintenance Expense 15 22 12 27 22 35 30 42 34 52 19 36 26 38 33 44 42 57 40 45 a. Develop the estimated regression equation that relates annual maintenance expense (in hundreds of dollars) to weekly usage hours (to 3 decimals). Expense = Weekly Usage b. 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). The p value is Select your answer- - Select your answer What is your less than 0.01 between 0.01 and 0.025 - Select your a between 0.025 and 0.05 c. Jensen expe between 0.05 and 0.10 greater than 0.10 sed 30 hours per week.…
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