The materials handling manager of a manufacturing company is trying...

Question

# The materials handling manager of a manufacturing company is trying...

The materials handling manager of a manufacturing company is trying to forecast the cost of maintenance for the​ company's fleet of​ over-the-road tractors. The manager believes that the cost of maintaining the tractors increases with their age. The following data was​ collected:

Observation    Age (years)    Yearly Maintenance Cost (\$)    Observation    Age (years)    Yearly Maintenance Cost (\$)
1    6.5    1,219    10    8.0    1,794
2    7.5    1,649    11    2.5    763
3    6.5    1,633    12    2.5    782
4    6.0    1,095    13    7.0    1,364
5    6.0    1,323    14    8.0    1,973
6    6.0    1,281    15    3.0    1,578
7    8.0    1,490    16    3.0    1,066
8    7.0    2,122    17    3.0    1,149
9    7.5    1,587

Use POM for​ Windows' least​ squares-linear regression module to develop a relationship to forecast the yearly maintenance cost based on the age of a tractor. ​(Enter your responses rounded to three decimal places and include a minus sign if​ necessary.)

where

Y=Yearly

maintenance cost in dollars and

X=Age

in years.

Part 3

b. If a section has

25

two​-year-old

​tractors, what is the forecast for the annual maintenance​ cost?

​(Enter your response rounded to two decimal​ places.)

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## Step-by-step explanation

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