Author Question: Tenused cars from a rental fleet are randomly selected. Each vehicles annual maintenance cost from ... (Read 13 times)

amymoore · **on:** Feb 26, 2023

Ten used cars from a rental fleet are randomly selected. Each vehicle’s annual maintenance cost from the previous calendar year (y) is recorded as well as the vehicle’s current mileage (x). A simple linear regression is conducted on the data.

The regression equation is

Maint = 297 + 0.00636 Miles

Predictor Coef SE Coef T P

Constant 296.6 162.4 1.83 0.105

Miles 0.006357 0.003121 2.04 0.076

S = 279.775 R-Sq = 34.1% R-Sq(adj) = 25.9%

Analysis of Variance

Source DF SS MS F P

Regression 1 324727 324727 4.15 0.076

Residual Error 8 626192 78274

Total 9 950919

What is an 80% prediction interval for the annual repair cost of a used vehicle with 40,000 miles? (Given: S_xx= 8,036,677,024 and$\style{font-family:Times New Roman;}{\overline x}$= $43,627.700.)

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$(144.72, 956.96)

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$(140.67, 961.01)

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$(426.25, 675.43)

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$(427.48, 674.20)

bigboya · **Reply #1 on:** Feb 26, 2023

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