Sunday
April 20, 2014

Homework Help: Statisitcs

Posted by GG on Tuesday, August 30, 2011 at 9:47pm.

The president of a company that manufactures car seats has been concerned about the number and cost of machine breakdowns. The problem is that the machines are old and becoming quite unreliable. However, the cost of replacing them is quite high, and the president is not certain that the cost can be made up in todayís slow economy. To help make a decision about replacement, he gathered data about last monthís cost for repairs and the ages (in moths) of the plantís 20 welding machines.
a. Find the sample regression.
b. Interpret the coefficients.
c. Determine the coefficient of determination, and discuss what this statistic tells you.
d. Conduct a test to determine whether the age of a machine and its monthly cost of repair are linearly related.
e. Is the fit of the simple linear model good enough to allow the president to predict the monthly repair cost of a welding machine that is 120 months old? If so, find a 95% prediction interval. If not, explain why not

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

marketing - ABC Technologies manufactures computer accessories, such as modems ...
math - The Math-Is-Fun T-shirt Company manufactures and sells screen-printed t-...
Math - At her bike factory, Eleanor manufactures two-wheel and three-wheel bikes...
Economics - A vice president of a company argues that the president of the ...
Maths - A car showroom had 10y cars, 20y motorcycles and 18 vans. In a ...
math 11 - Please help this question is from my unit on linear programing and I'm...
Math - an auditorium has 50 rows of seats. THe first row has 20 seats, the row ...
math (linear programing problem) - Please help this question is from my unit on ...
microeconomics - Suppose that in 2008, you became president of a small nonprofit...
math - Determine the seating capacity of an auditorium with 10 rows of seats if ...

Search
Members