A careful analysis of the cost of operating an automobile was conducted by accounting manager Dia Bandaly. The following model was developed: y= 3,600+ 0.16x, where y is the annual cost and x is the miles driven. a) If the car is driven 15,000 miles this year, the forecasted cost of operating this automobile = $ (enter your response as a whole number). b) If the car is driven 26,000 miles this year, the forecasted cost of operating this automobile = $(enter your response as a whole number).
A careful analysis of the cost of operating an automobile was conducted by accounting manager Dia Bandaly. The following model was developed: y= 3,600+ 0.16x, where y is the annual cost and x is the miles driven. a) If the car is driven 15,000 miles this year, the forecasted cost of operating this automobile = $ (enter your response as a whole number). b) If the car is driven 26,000 miles this year, the forecasted cost of operating this automobile = $(enter your response as a whole number).
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.3: Simple Regression Models
Problem 9P
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