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The regional transit authority for a major metropolitan area wants to determine whether there is a relationship between the age of a bus and the annual maintenance cost. A sample of 10 buses is shown in the datafile AgeCost. a. Develop a scatter chart for these data. What does the scatter chart indicate about the relationship between age of a bus and the annual maintenance cost?

The regional transit authority for a major metropolitan area wants to determine whether there is a relationship between the age of a bus and the annual maintenance cost. A sample of 10 buses is shown in the datafile AgeCost. a. Develop a scatter chart for these data. What does the scatter chart indicate about the relationship between age of a bus and the annual maintenance cost?

MATLAB: An Introduction with Applications
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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Please help on parts a through e! Thank you!

The regional transit authority for a major metropolitan area wants to determine whether there is a relationship between the age of a bus and the annual maintenance cost. A sample of 10 buses is shown in the datafile AgeCost. a. Develop a scatter chart for these data. What does the scatter chart indicate about the relationship between age of a bus and the annual maintenance cost? b. Use the data to develop an estimated regression equation that could be used to predict the annual maintenance cost given the age of the bus. What is the estimated regression model? c. Test whether each of the regression parameters 30 and 31 is equal to zero at a 0.05 level of significance. What are the correct interpretations of the estimated regression parameters? d. How much of the variation in the sample values of annual maintenance cost does the model you estimated in part (b) explain? e. What do you predict the annual maintenance cost to be for a 3.5-year-old bus?
Transcribed Image Text:The regional transit authority for a major metropolitan area wants to determine whether there is a relationship between the age of a bus and the annual maintenance cost. A sample of 10 buses is shown in the datafile AgeCost. a. Develop a scatter chart for these data. What does the scatter chart indicate about the relationship between age of a bus and the annual maintenance cost? b. Use the data to develop an estimated regression equation that could be used to predict the annual maintenance cost given the age of the bus. What is the estimated regression model? c. Test whether each of the regression parameters 30 and 31 is equal to zero at a 0.05 level of significance. What are the correct interpretations of the estimated regression parameters? d. How much of the variation in the sample values of annual maintenance cost does the model you estimated in part (b) explain? e. What do you predict the annual maintenance cost to be for a 3.5-year-old bus?
Age of Bus (years) Annual Maintenance Cost (S) 1 350 370 480 520 590 550 750 800 790 950 № № № NMT +11, 2 2 4 BERAN W P
Transcribed Image Text:Age of Bus (years) Annual Maintenance Cost (S) 1 350 370 480 520 590 550 750 800 790 950 № № № NMT +11, 2 2 4 BERAN W P
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