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An operations manager at a luxury car rental company is trying to forecast the cost of maintenance for the the company's fleet of luxury cars.
An operations manager at a luxury car rental company is trying to forecast the cost of maintenance for the the company's fleet of luxury cars. The manager believes that the maintenance costs increases with the age of the vehicle. They collected the following data: (also in Excel file here: Car_Data_Exam1.xlsx) a) Use Microsoft Excel (or other software such as JMP) to develop a relationship (equation below) to forecast the monthly maintenance cost based on the luxury car. Y=a+bX , where Y= monthly maintenance cost in dollars and X= age of the luxury car in months. b) If a luxury cars is 2 years old, what is the forecast for its monthly maintenance? Please show your work to receive any partial credits. You can type in the answers and upload the Excel file with regression. Age Monthly (months)maintenancecost54781310457157621128910113$100$95$105$116$200$120$50$90$84$150$99$67$35$25$187$125$135$150$174$42
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