Question: Dana Corp. uses linear regression to estimate costs. The machine hours and related costs for the last year, as well as the regression analysis results,

Dana Corp. uses linear regression to estimate

Dana Corp. uses linear regression to estimate costs. The machine hours and related costs for the last year, as well as the regression analysis results, are as follows: Machine Hours 580 420 500 400 600 410 Maintenance Month Cost Jan. $ 4,450 Feb. 3,250 Mar. 3,850 Apr. 3,070 May 4,600 June 3,210 July 3,280 Aug. 4,720 Sept. 4,510 Oct. 4,300 3,550 3,410 Sum $46,200 Average $ 3,850 Average cost per hour a (intercept) b coefficient) Standard error of the estimate R-squared t-value for b NOV. Dec. 420 620 590 570 450 440 6,000 $ 500 $ 8.00 S 205.82 7.2884 34.469 0.99724 60.1050 If machine hours are 400, Aaron's manager can be approximately two-thirds confident that the range of the maintenance costs will be Dana Corp. uses linear regression to estimate costs. The machine hours and related costs for the last year, as well as the regression analysis results, are as follows: Machine Hours 580 420 500 400 600 410 Maintenance Month Cost Jan. $ 4,450 Feb. 3,250 Mar. 3,850 Apr. 3,070 May 4,600 June 3,210 July 3,280 Aug. 4,720 Sept. 4,510 Oct. 4,300 3,550 3,410 Sum $46,200 Average $ 3,850 Average cost per hour a (intercept) b coefficient) Standard error of the estimate R-squared t-value for b NOV. Dec. 420 620 590 570 450 440 6,000 $ 500 $ 8.00 S 205.82 7.2884 34.469 0.99724 60.1050 If machine hours are 400, Aaron's manager can be approximately two-thirds confident that the range of the maintenance costs will be

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