The following table shows the annual maintenance costs for several cars, as well
ID: 2702192 • Letter: T
Question
The following table shows the annual maintenance costs for several cars, as well as their age.
age of car
annual expenses ($)
1
100
2
375
2
325
3
455
3
520
4
485
4
530
5
595
5
515
6
700
6
800
7
1000
7
950
(a) Develop a regression model that relates maintenance costs (dependent variable) as a function of age (independent variable). What are the regression-equation parameters? (15 pts)
(b) Predict the annual cost of maintaining an eight-year-old car. (10 pts)
age of car
annual expenses ($)
1
100
2
375
2
325
3
455
3
520
4
485
4
530
5
595
5
515
6
700
6
800
7
1000
7
950
Explanation / Answer
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