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The materials handling manager of a manufacturing company is trying to forecast the cost of maintenance for the company's fleet of over - the -
The materials handling manager of a manufacturing company is trying to forecast the cost of maintenance for the company's fleet of overtheroad tractors. The manager believes that the cost of maintaining the tractors increases with their age. The following data were collected.
tableAge YearsYearly Maintenance Cost $
a Use linear regression model to develop a relationship to forecast the yearly maintenance cost based on the age of a tractor.
b If a section has a threeyear old tractor, what is the forecast for the annual maintenance cost?
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