Question 2 : If a section has 20 four-year-old tractors, what is the forecast for the annual maintenance cost? Estimate the annual cost to maintain a four-year-old tractor with the regression equation.

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: Age (years) 6.5 6.5 6.5 7.0 6.0 6.0 Yearly Maintenance Cost ($) 1,519 1,949 1,933 1,395 1,623 1,581 1,790 2,422 1,887 Age (years) 6.0 2.5 2.5 9.0 8.0 3.0 3.0 3.0 Yearly Maintenance Cost ($) 2,094 1,063 1,082 1,664 2,273 1,878 1,366 1,449 7.0 7.0 7.5 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.) Y= where Y = Yearly maintenance cost in dollars and X = Age in years