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The regional transit authority for a major metropolitan area wants to determine whether there is any relationship between the age of a bus and the
The regional transit authority for a major metropolitan area wants to determine whether there is any relationship between the age of a bus and the annual maintenance cost. A sample of 10 buses resulted in the following data. Click on the datafile logo to reference the data. DATA file Age of Bus (years) Maintenance Cost ($) 350 370 N 480 N 520 590 550 750 800 5 790 5 950 a. Develop the least squares estimated regression equation (to 4 decimals, if necessary). y = X + Age b. Test to see whether the two variables are significantly related with o = 0.05. Reject null hypothesis c. Did the least squares line provide a good fit to the observed data? Yes d. Develop a 95% prediction interval for the maintenance cost for a specific bus that is 4 years old (to 1 decimal). to $
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