Give correct answer and give explaination and give summary at last. 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:Age(years)6.55.56.56.06.06.07.07.07.5YearlyMaintenanceCost ($)1,1191,5491,5339951,2231,1811,3902,0221,487Age(years)8.02.52.58.08.03.03.03.0YearlyMaintenanceCost ($)Y=+X1,6946636821,2641,8731,4789661,049a. 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. (Enteryour responses rounded to three decimal places and include a minus sign if necessary.)where Y = Yearly maintenance cost in dollars and X = Age in years.b. If a section has 10 two-year-old tractors, what is the forecast for the annual maintenance cost? $ (Enter your response rounded to two decimal places.)

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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) 6.5 5.5 6.5 6.0 6.0 6.0 7.0 7.0 7.5 Yearly Maintenance Cost ($) 1,119 1,549 1,533 995 1,223 1,181 1,390 2,022 1,487 Age (years) 8.0 2.5 2.5 8.0 8.0 3.0 3.0 3.0 Yearly Maintenance Cost ($) 1,694 663 682 1,264 1,873 1,478 966 1,049 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=+X where Y = Yearly maintenance cost in dollars and X = Age in years. b. If a section has 10 two-year-old tractors, what is the forecast for the annual maintenance cost? $ (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) 6.5 5.5 6.5 6.0 6.0 6.0 7.0 7.0 7.5 Yearly Maintenance Cost ($) 1,119 1,549 1,533 995 1,223 1,181 1,390 2,022 1,487 Age (years) 8.0 2.5 2.5 8.0 8.0 3.0 3.0 3.0 Yearly Maintenance Cost ($) 1,694 663 682 1,264 1,873 1,478 966 1,049 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=+X where Y = Yearly maintenance cost in dollars and X = Age in years. b. If a section has 10 two-year-old tractors, what is the forecast for the annual maintenance cost? $ (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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Question

Give correct answer and give explaination and give summary at last.

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)
6.5
5.5
6.5
6.0
6.0
6.0
7.0
7.0
7.5
Yearly
Maintenance
Cost ($)
1,119
1,549
1,533
995
1,223
1,181
1,390
2,022
1,487
Age
(years)
8.0
2.5
2.5
8.0
8.0
3.0
3.0
3.0
Yearly
Maintenance
Cost ($)
Y=+X
1,694
663
682
1,264
1,873
1,478
966
1,049
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.)
where Y = Yearly maintenance cost in dollars and X = Age in years.
b. If a section has 10 two-year-old tractors, what is the forecast for the annual maintenance cost? $ (Enter your response rounded to two decimal places.)

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