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: Sxx= 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)
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Natalie and Marc playing cars