please provide detailed solutions:

The regional transit authority for a major metropolitan area wants to determine whether there is a relationship between the age of a bus and the annual maintenance cost. A sample of ten buses resulted in the following data.

Click on the datafile logo to reference the data.

Age of Bus (years)	Annual Maintenance Cost ($)
1	350
2	370
2	480
2	520
2	590
3	550
4	750
4	800
5	790
5	950

(a)

Choose a scatter chart below with age of bus as the independent variable.

(i)
(ii)
(iii)
(iv)

- Select your answer -Chart (i)Chart (ii)Chart (iii)Chart (iv)Item 1

What does the scatter chart indicate about the relationship between age of a bus and the annual maintenance cost?

The scatter chart indicates there may be a- Select your answer -positivenegativeItem 2linear relationship between age of bus and annual maintenance cost.

(b)

Use the data to develop an estimated regression equation that could be used to predict the annual maintenance cost given the age of the bus. What is the estimated regression model?

Letxrepresent the age of the bus.

If required, round your answers to two decimal places. For subtractive or negative numbers use a minus sign even if there is a + sign before the blank. (Example: -300)

=+x

(c)

Test whether each of the regression parameters₀and₁is equal to zero at a 0.05 level of significance. What are the correct interpretations of the estimated regression parameters? Are these interpretations reasonable?

The input in the box below will not be graded, but may be reviewed and considered by your instructor.

(d)

How much of the variation in the sample values of annual maintenance cost does the model you estimated in part (b) explain?

If required, round your answer to two decimal places.

%

(e)

What do you predict the annual maintenance cost to be for a 3.5 year old bus?

If required, round your answer to the nearest whole number.

$