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Please help with 2-10. A regional transit company wants to determine whether there is a relationship between the age of a bus and the annual
Please help with 2-10.
A regional transit company wants to determine whether there is a relationship between the age of a bus and the annual maintenance cost. A sample of 10 buses resulted in the following data: Age of Bus (years) Annual Maintenance Cost ($) 350 2 370 2 480 2 520 2 590 3 550 4 750 4 800 5 790 5 950 Instructions: 1. Input the data into an SPSS work sheet making sure that all your variables are labelled appropriately 2. Create a scatter plot for these data. 3. What does the scatter plot indicate about the relationship between the age of a bus and its annual maintenance costs? 4. What is the correlation coefficient between the age of a bus and annual maintenance cost? 5. Estimate a regression model that could be used to predict the annual maintenance cost given the age of the bus. 6. What is the equation of the estimated model? 7. Test whether each of the regression parameters Bo and B1 is equal to zero at the 0.05 level of significance testing. 8. What is the correct interpretations of these parameters? 9. How much of the variation in the sample values of annual maintenance costs does the regression model you estimated explain? 10. What do you predict the annual maintenance cost to be for a 4.5 year old bus? 11. Save all your commands to a syntax file A regional transit company wants to determine whether there is a relationship between the age of a bus and the annual maintenance cost. A sample of 10 buses resulted in the following data: Age of Bus (years) Annual Maintenance Cost ($) 350 2 370 2 480 2 520 2 590 3 550 4 750 4 800 5 790 5 950 Instructions: 1. Input the data into an SPSS work sheet making sure that all your variables are labelled appropriately 2. Create a scatter plot for these data. 3. What does the scatter plot indicate about the relationship between the age of a bus and its annual maintenance costs? 4. What is the correlation coefficient between the age of a bus and annual maintenance cost? 5. Estimate a regression model that could be used to predict the annual maintenance cost given the age of the bus. 6. What is the equation of the estimated model? 7. Test whether each of the regression parameters Bo and B1 is equal to zero at the 0.05 level of significance testing. 8. What is the correct interpretations of these parameters? 9. How much of the variation in the sample values of annual maintenance costs does the regression model you estimated explain? 10. What do you predict the annual maintenance cost to be for a 4.5 year old bus? 11. Save all your commands to a syntax fileStep by Step Solution
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