A trucking company wants to predict the yearly maintenance expense (Y ) for a truck using the

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A trucking company wants to predict the yearly maintenance expense (Y ) for a truck using the number of miles driven during the year (X1) and the age of the truck (X2, in years) at the beginning of the year. The company has gathered the data given in the file P16_13.xlsx. Note that each observation corresponds to a particular truck. Estimate a multiple regression model using the given data. Interpret each of the estimated regression coefficients. Also, interpret the standard error of estimate and the R-square value for these data.

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Practical Management Science, Revised

ISBN: 9781118373439

3rd Edition

Authors: Wayne L Winston, S. Christian Albright

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