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 = 365.727 + 110.721 X where Y Yearly maintenance cost in dollars and X= Age in years. b. If a section has 20 four-year-old tractors, what is the forecast for the annual maintenance cost? $ (Enter your response rounded to two decimal places.)
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 = 365.727 + 110.721 X where Y Yearly maintenance cost in dollars and X= Age in years. b. If a section has 20 four-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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