Transit Statistics | GET EXPERT ANSWER: 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 data file logo to reference the data. DATA file Age of Bus (years)Maintenance Cost ($)VIVAAWNNNN-350370480520590550750800790950.
a. Develop the least squares estimated regression equation (to 4 decimals, if necessary).y =220132 Age.
b. Test to see whether the two variables are significantly related with a = .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).3.5to682X.
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