MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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An automobile rental company wants to predict the yearly maintenance expense (Y) for an automobile using the number of miles driven during the year () and the age of the car (, in years) at the beginning of the year. The company has gathered the data on 10 automobiles and run a regression analysis with the results shown below:.

 

Summary measures      
Multiple R 0.9689      
R-Square 0.9387      
Adj R-Square 0.9212      
StErr of Estimate 72.218      
         
Regression coefficients      
  Coefficient Std Err t-value p-value
Constant 33.796 48.181 0.7014 0.5057
Miles Driven 0.0549 0.0191 2.8666 0.0241
Age of car 21.467 20.573 1.0434 0.3314


Use the information above to estimate the annual maintenance expense for a 10 years old car with 60,000 miles. 

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