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Posted on Jul 29, 2024

EXCEL ASSIGNMENT Assume the following data (where the xxx is the last three digits of your panther id): Month Machine Hours (hrs. Maintenance Costs 103

EXCEL ASSIGNMENT Assume the following data (where the xxx is the last three digits of your panther id): Month Machine Hours (hrs. Maintenance Costs 103 XX 11.00 107 1.220 102.XXX 1.470 TION 1.620 116 XXX 1.660 IS 1.490 107 1450 10 I SRO 111300 12 600 131.650 140.440 15 1350 16 1.680 11.480 18 1360 19 1340 201.540 211320 22 1.410 1.210 HTTIIL 106 KK 113 100 UN 3. XXX 113.XXX 110XX 102XXX 1117,XXX 106, 103. XXX 103.XXX 112.xxx 1102XXX 104 X 101.XXX For example, if your panther id is 1234567, then your maintenance costs would be $103,567 in month 1: S107,567 is month 2; $113,567 in months 10, 12, and 13. Assume that the following relationship holds: Maintenance Costs = a + b * Machine Hours) REQUIRED Estimate the values of a and b, using, 1. the High-Low Method, and (8 Points) 2. the Linear Regression method (8 Points) For help outside of the textbook, try "Linear Regression in Excel" on YouTube Note, to use the linear regression method, you MUST use the Microsoft Excel program. Make sure to report i). the values of a and b ii) a scatter plot of the data points, and 11.620 11.060 11.490 1.NO 11.450 11.SNO 111.300 120.600 13 1.650 140.440 1.150 16 1.680 11.480 10360 1.340 20 0. 540 210.320 11.410 23 0.230 1116.XXX ITIS 1107 XXX 1101xx 106 XXX IN 100 XXX 113. XX 113 10 TOT 19 1117 106 103 X 103 12. 102.XXX 1104 101 1 For example, if your panther id is 1234567, then your maintenance costs would be $103,567 in month 1; $107,567 is month 2: $113,567 in months 10, 12, and 13. Assume that the following relationship holds: Maintenance Costs = a + b * Machine Hours) REQUIRED Estimate the values of a and b, using, 1. the High-Low Method, and (8 Points) 2. the Linear Regression method (8 Points) For help outside of the textbook, try "Linear Regression in Excel" on YouTube Note, to use the linear regression method, you MUST use the Microsoft Excel program. Make sure to report i). the values of a and b ii) a scatter plot of the data points, and iii) the R-square or the adjusted R-square 3. Which of the above two methods is more appropriate? Why? (3 sentences maximum) (4 Points) EXCEL ASSIGNMENT Assume the following data (where the xxx is the last three digits of your panther id): Month Machine Hours (hrs. Maintenance Costs 103 XX 11.00 107 1.220 102.XXX 1.470 TION 1.620 116 XXX 1.660 IS 1.490 107 1450 10 I SRO 111300 12 600 131.650 140.440 15 1350 16 1.680 11.480 18 1360 19 1340 201.540 211320 22 1.410 1.210 HTTIIL 106 KK 113 100 UN 3. XXX 113.XXX 110XX 102XXX 1117,XXX 106, 103. XXX 103.XXX 112.xxx 1102XXX 104 X 101.XXX For example, if your panther id is 1234567, then your maintenance costs would be $103,567 in month 1: S107,567 is month 2; $113,567 in months 10, 12, and 13. Assume that the following relationship holds: Maintenance Costs = a + b * Machine Hours) REQUIRED Estimate the values of a and b, using, 1. the High-Low Method, and (8 Points) 2. the Linear Regression method (8 Points) For help outside of the textbook, try "Linear Regression in Excel" on YouTube Note, to use the linear regression method, you MUST use the Microsoft Excel program. Make sure to report i). the values of a and b ii) a scatter plot of the data points, and 11.620 11.060 11.490 1.NO 11.450 11.SNO 111.300 120.600 13 1.650 140.440 1.150 16 1.680 11.480 10360 1.340 20 0. 540 210.320 11.410 23 0.230 1116.XXX ITIS 1107 XXX 1101xx 106 XXX IN 100 XXX 113. XX 113 10 TOT 19 1117 106 103 X 103 12. 102.XXX 1104 101 1 For example, if your panther id is 1234567, then your maintenance costs would be $103,567 in month 1; $107,567 is month 2: $113,567 in months 10, 12, and 13. Assume that the following relationship holds: Maintenance Costs = a + b * Machine Hours) REQUIRED Estimate the values of a and b, using, 1. the High-Low Method, and (8 Points) 2. the Linear Regression method (8 Points) For help outside of the textbook, try "Linear Regression in Excel" on YouTube Note, to use the linear regression method, you MUST use the Microsoft Excel program. Make sure to report i). the values of a and b ii) a scatter plot of the data points, and iii) the R-square or the adjusted R-square 3. Which of the above two methods is more appropriate? Why? (3 sentences maximum) (4 Points)