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Jensen Tire & Auto is in the process of deciding whether to purchase a maintenance contract for its new computer wheel alignment and balancing machine. Managers feel that maintenance expense should be related to usage, and they collected the following information on weekly usage (hours) and annual maintenance expense (in hundreds of dollars). Weekly Usage Annual (hours) Maintenance Expense 15 22 12 27 22 35 30 42 34 52 19 36 26 38 33 44 42 57 40 45 a. Develop the estimated regression equation that relates annual maintenance expense (in hundreds of dollars) to weekly usage hours (to 3 decimals). Expense = Weekly Usage b. Test the significance of the relationship in part (a) at a 0.05 level of significance. Compute the value of the F test statistic (to 2 decimals). The p value is - Select your answer - Select your answer What is your dless than 0.01 between 0.01 and 0.025 - Select your a between 0.025 and 0.05 between 0.05 and 0.10 greater than 0.10 hundred c. Jensen expe used 30 hours per week. What is the expected annual maintenance expense in hundreds of dollars (to 2 decimals)? Develop a 95% prediction interval for the company's annual maintenance expense for this machine (to 2 decimals). (s hundred, $ hundred ) d. If the maintenance contract costs $3000 per year, would you recommend purchasing the contract for the new machine in part (c)? Why or why not? - Select your answer

Jensen Tire & Auto is in the process of deciding whether to purchase a maintenance contract for its new computer wheel alignment and balancing machine. Managers feel that maintenance expense should be related to usage, and they collected the following information on weekly usage (hours) and annual maintenance expense (in hundreds of dollars). Weekly Usage Annual (hours) Maintenance Expense 15 22 12 27 22 35 30 42 34 52 19 36 26 38 33 44 42 57 40 45 a. Develop the estimated regression equation that relates annual maintenance expense (in hundreds of dollars) to weekly usage hours (to 3 decimals). Expense = Weekly Usage b. Test the significance of the relationship in part (a) at a 0.05 level of significance. Compute the value of the F test statistic (to 2 decimals). The p value is - Select your answer - Select your answer What is your dless than 0.01 between 0.01 and 0.025 - Select your a between 0.025 and 0.05 between 0.05 and 0.10 greater than 0.10 hundred c. Jensen expe used 30 hours per week. What is the expected annual maintenance expense in hundreds of dollars (to 2 decimals)? Develop a 95% prediction interval for the company's annual maintenance expense for this machine (to 2 decimals). (s hundred, $ hundred ) d. If the maintenance contract costs $3000 per year, would you recommend purchasing the contract for the new machine in part (c)? Why or why not? - Select your answer

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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Jensen Tire & Auto is in the process of deciding whether to purchase a maintenance contract for its new computer wheel alignment and balancing machine. Managers feel that maintenance expense should be related to usage, and they collected the following information on weekly usage (hours) and annual maintenance expense (in hundreds of dollars). Weekly Usage Annual (hours) Maintenance Expense 15 22 12 27 22 35 30 42 34 52 19 36 26 38 33 44 42 57 40 45 a. Develop the estimated regression equation that relates annual maintenance expense (in hundreds of dollars) to weekly usage hours (to 3 decimals). Expense = Weekly Usage b. Test the significance of the relationship in part (a) at a 0.05 level of significance. Compute the value of the F test statistic (to 2 decimals). The p value is Select your answer- - Select your answer What is your less than 0.01 between 0.01 and 0.025 - Select your a between 0.025 and 0.05 c. Jensen expe between 0.05 and 0.10 greater than 0.10 sed 30 hours per week. What is the expected annual maintenance expense in hundreds of dollars (to 2 decimals)? hundred Develop a 95% prediction interval for the company's annual maintenance expense for this machine (to 2 decimals). (s hundred, $ hundred ) d. If the maintenance contract costs 83000 per year, would you recommend purchasing the contract for the new machine in part (c)? Why or why not? Select your answer-
Transcribed Image Text:Jensen Tire & Auto is in the process of deciding whether to purchase a maintenance contract for its new computer wheel alignment and balancing machine. Managers feel that maintenance expense should be related to usage, and they collected the following information on weekly usage (hours) and annual maintenance expense (in hundreds of dollars). Weekly Usage Annual (hours) Maintenance Expense 15 22 12 27 22 35 30 42 34 52 19 36 26 38 33 44 42 57 40 45 a. Develop the estimated regression equation that relates annual maintenance expense (in hundreds of dollars) to weekly usage hours (to 3 decimals). Expense = Weekly Usage b. Test the significance of the relationship in part (a) at a 0.05 level of significance. Compute the value of the F test statistic (to 2 decimals). The p value is Select your answer- - Select your answer What is your less than 0.01 between 0.01 and 0.025 - Select your a between 0.025 and 0.05 c. Jensen expe between 0.05 and 0.10 greater than 0.10 sed 30 hours per week. What is the expected annual maintenance expense in hundreds of dollars (to 2 decimals)? hundred Develop a 95% prediction interval for the company's annual maintenance expense for this machine (to 2 decimals). (s hundred, $ hundred ) d. If the maintenance contract costs 83000 per year, would you recommend purchasing the contract for the new machine in part (c)? Why or why not? Select your answer-
Jensen Tire & Auto is in the process of deciding whether to purchase a maintenance contract for its new computer wheel alignment and balancing machine. Managers feel that maintenance expense should be related to usage, and they collected the following information on weekly usage (hours) and annual maintenance expense (in hundreds of dollars). Weekly Usage Annual (hours) Maintenance Expense 15 22 12 27 22 35 30 42 34 52 19 36 26 38 33 44 42 57 40 45 a. Develop the estimated regression equation that relates annual maintenance expense (in hundreds of dollars) to weekly usage hours (to 3 decimals). Expense= Weekly Usage b. Test the significance of the relationship in part (a) at a 0.05 level of significance. Compute the value of the F test statistic (to 2 decimals). The p value is - Select your answer- What is your conclusion? Select your answer- - Select your answer Do not conclude that there is a significant relationship between expense and weekly usage Conclude that there is a significant relationship between expense and weekly usage annual maintenance expense in hundreds of dollars (to 2 decimals)? Tunureu Develop a 95% prediction interval for the company's annual maintenance expense for this machine (to 2 decimals). (24 hundred, $ hundred ) d. If the maintenance contract costs $3000 per year, would you recommend purchasing the contract for the new machine in part (c)? Why or vwhy not? - Select your answer -
Transcribed Image Text:Jensen Tire & Auto is in the process of deciding whether to purchase a maintenance contract for its new computer wheel alignment and balancing machine. Managers feel that maintenance expense should be related to usage, and they collected the following information on weekly usage (hours) and annual maintenance expense (in hundreds of dollars). Weekly Usage Annual (hours) Maintenance Expense 15 22 12 27 22 35 30 42 34 52 19 36 26 38 33 44 42 57 40 45 a. Develop the estimated regression equation that relates annual maintenance expense (in hundreds of dollars) to weekly usage hours (to 3 decimals). Expense= Weekly Usage b. Test the significance of the relationship in part (a) at a 0.05 level of significance. Compute the value of the F test statistic (to 2 decimals). The p value is - Select your answer- What is your conclusion? Select your answer- - Select your answer Do not conclude that there is a significant relationship between expense and weekly usage Conclude that there is a significant relationship between expense and weekly usage annual maintenance expense in hundreds of dollars (to 2 decimals)? Tunureu Develop a 95% prediction interval for the company's annual maintenance expense for this machine (to 2 decimals). (24 hundred, $ hundred ) d. If the maintenance contract costs $3000 per year, would you recommend purchasing the contract for the new machine in part (c)? Why or vwhy not? - Select your answer -
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