Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I'm a bit confused on how to do the ones I got wrong The data i Machinerysxlsx shows the data for a manufacturer who is

I'm a bit confused on how to do the ones I got wrong

image text in transcribedimage text in transcribed
The data i Machinerysxlsx shows the data for a manufacturer who is considering replacing machinery records the age of each machine months) and the amount spent on repair 9 each machine (3). Download these data and perform a linear regression in Excel to determine whether age of machinery useful lor predicting repair costs. Use the output lrom your regression and the residual diagnostic plots lrom this analysis which are given below to answer the questions which follow. Histogram of residuals Residual plot to ~ 2 _ 0 00: 0 00 0 0 LE 2 g a o 0% o e 3W" . w o o o E '0 & 9. - " go 0 o o '_'_ -" o I I I I I i I I I I I I -20 -1o 0 10 20 6 a 10 i2 14 16 IB Residuals Age Answer the loliowlng questions by choosing the most correct option or typing the answer: it (1 mark) Great a scatterplot oi repair cost against age, The relationship shown in the scatterplot is posltive . v n t (1 mark) The histogram of residuals is approximately normally distributedot toe skewed e v at (1 mark) The residual plot shows a random scatter oi points for the whole range of ages true : v at (1 mark) The piece oi machinery that is the oldest else has the most repair costs true e v 5. (2 marks) The piece of machinery with the largest residual had an age M1059 and had a repair cost of 40'0\" dollars. Calculate the value or the residuals Type your answer with edp. 2157 x 6. (2 marks) The slope of the regression line is equal to (type your answer with adp): 0.201 I 7. (1 mark) The p-value tor testing the slope of the regression line is less than 0.05. lalse : x at (2 marks) The most appropriate conclusion to the question: is age a useful predictor oi the repair cost or machinery? There is a significant positive linear relationship between age and repair cost 6 v s (1 mark) The correlation is (type your answer with adp): 0.984 x 10. (1 mark) can we predict age when repair cost Is 267 Yes = x 11. (2 marks) Use the regression equation to predict the cost repairing a machine when the machine age is 11. Type your answer with up. 8.392 x 12' (3 marks) We are 95% confident that for each year older the repair cost increases 5 ti between X and & dollarst Type your answer with adpt 1 age cost 2 9.31712 20.05091 3 6.056959 18.06111 4 9.538562 22.16538 5 12.21019 23.65871 6 16.67021 27.04914 7 6.137387 13.93883 8 13.84271 42.67534 9 11.31731 19.66971 10 13.78911 23.47308 11 9.493321 30.58806 12 11.76465 25.25948 13 6.391326 16.60581 14 13.9049 33.62949 15 5.142581 18.32393 16 8.083554 18.54039 17 10.82683 35.2053 18 11.99113 40.87204 19 6.771607 10.79322 20 9.04684 13.81994 21 15.78706 10.11496 22 11.53953 23.11854 23 11.28825 24.93168 24 12.47431 29.51805 25 10.88709 38.7956 26 18.21538 33.59353 27 10.52083 12.85597 28 10.32115 37.38197 29 5.402142 19.5843 30 12.91477 26.35711 31 17.59213 32.97113 32 19.24108 53.07703 33 5.278231 22.73553 34 14.11757 39.67598 35 15.66498 25.22112 36 8.555174 20.51558 37 6.861471 20.94805 38 13.4211 35.34014 39 10.64637 16.146 40 7.430325 16.94247 41 17.74594 46.30973 42 9.219474 13.93715 43 11.21811 19.3906 44 11.57844 14.58933 45 10.59211 15.23585 46 13.02712 42.25757 47 16.90933 34.83773 48 10.59032 40.04397 49 12.81861 12.06654 50 9.039821 22.14794 51 15.82009 38.38353

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Calculus Early Transcendentals, Multivariable

Authors: Michael Sullivan, Kathleen Miranda

2nd Edition

131924288X, 9781319242886

More Books

Students also viewed these Mathematics questions