Question: I need help solving this problem!!! The materials handling manager of a manufacturing company is trying to forecast the cost of maintenance for the company's
I need help solving this problem!!!
The materials handling manager of a manufacturing company is trying to forecast the cost of maintenance for the company's fleet of over-the-road tractors. The manager believes that the cost of maintaining the tractors increases with their age. The following data was collected Yearly Yearly Age Maintenance Age Maintenance (years) Cost (5) (years) Cost (5) 65 1,119 7.0 1,694 5.5 1,549 2.5 663 6.5 1,533 25 682 50 995 70 1,264 6.0 1,223 8.0 1,873 60 1,181 30 1,478 70 1,390 3.0 966 70 2,022 3.0 1,049 7.5 1,487 a. Use POM for Windows' least squares-linear regression module to develop a relationship to forecast the yearly maintenance cost based on the age of a tractor (Enter your responses rounded to three decimal places and include a minus sign if necessary) whate Y = Yearly maintenance cost in dollars and X = Age in years
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