Part B? The materials handling manager of a manufacturing company is trying to forecast the cost of maintenance for the company's fleet of over-the-road tractors. The managerbelieves that the cost of maintaining the tractors increases with their age. The following data was collected:YearlyMaintenanceCost (S)YearlyMaintenanceCost ($)1,794Age(years)Age(years)6.51,2191,6496.07.52.57636.51,6332.57825.01,0959.01.3646.01,3238.01,9736.01,2813.01,5788.01,4903.01,0662,1221,5877.03.01,1497.5a. Use POM for Windows' least squares-linear regression module to develop a relationship to forecast the yearly maintenance cost based on the age of a tractor. (Enter yourresponses rounded to three decimal places and include a minus sign if necessary.)Y = 744.346 + 115.609'xwhere Y = Yearly maintenance cost in dollars and X= Age in years.b. If a section has 20 three-year-old tractors, what is the forecast for the annual maintenance cost? $ 3056.53. (Enter your response rounded to two decimal places.)

a)The POS for Windows regression model is as follows

The materials handling manager of a manufacturing company is trying to forecast the cost of maintenance for the company's fleet of over-the-road tractors. The manager believes that the cost of maintaining the tractors increases with their age. The following data was collected: Age (years) Yearly Maintenance Cost ($) Age (years) Yearly Maintenance Cost ($) 6.5 1,219 6.0 1,794 7.5 1,649 2.5 763 6.5 1,633 2.5 782 5.0 1,095 9.0 1,364 6.0 1,323 8.0 1,973 1,578 1,066 1,149 6.0 1,281 3.0 8.0 1,490 3.0 2,122 1,587 7.0 3.0 7.5 a. Use POM for Windows' least squares-linear regression module to develop a relationship to forecast the yearly maintenance cost based on the age of a tractor. (Enter your responses rounded to three decimal places and include a minus sign if necessary.) Y = 744.346 + 115.609'x where Y = Yearly maintenance cost in dollars and X= Age in years. b. If a section has 20 three-year-old tractors, what is the forecast for the annual maintenance cost? $ 3056.53. (Enter your response rounded to two decimal places.)

The materials handling manager of a manufacturing company is trying to forecast the cost of maintenance for the company's fleet of over-the-road tractors. The manager believes that the cost of maintaining the tractors increases with their age. The following data was collected: Age (years) Yearly Maintenance Cost ($) Age (years) Yearly Maintenance Cost ($) 6.5 1,219 6.0 1,794 7.5 1,649 2.5 763 6.5 1,633 2.5 782 5.0 1,095 9.0 1,364 6.0 1,323 8.0 1,973 1,578 1,066 1,149 6.0 1,281 3.0 8.0 1,490 3.0 2,122 1,587 7.0 3.0 7.5 a. Use POM for Windows' least squares-linear regression module to develop a relationship to forecast the yearly maintenance cost based on the age of a tractor. (Enter your responses rounded to three decimal places and include a minus sign if necessary.) Y = 744.346 + 115.609'x where Y = Yearly maintenance cost in dollars and X= Age in years. b. If a section has 20 three-year-old tractors, what is the forecast for the annual maintenance cost? $ 3056.53. (Enter your response rounded to two decimal places.)

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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