Question: Regression Analysis or Expected Value to solve: Given their increasing popularity, a busy car repair shop wants to specialize more in electric car repairs. They
Regression Analysis or Expected Value to solve:
Given their increasing popularity, a busy car repair shop wants to specialize more in electric car repairs. They have hired a Risk Management Consultant to review their 2021 electric car repair costs which were used to calculate the projected volume of repair costs for January 2022. For regression, solve for expected frequencies of 30, 35, and 40. You can upload your Excel worksheet or handwritten calculations.
| Month | Frequency of Electric Car Repairs | Freq Probability of Electric Car Repairs | Amount of Electric Car Repairs |
| Jan | 5 | 0.01 | 10,000 |
| Feb | 8 | 0.03 | 12,000 |
| Mar | 5 | 0.03 | 9,500 |
| Apr | 10 | 0.07 | 18,000 |
| June | 12 | 0.10 | 22,000 |
| July | 15 | 0.08 | 25,500 |
| Aug | 17 | 0.11 | 27,090 |
| Sept | 22 | 0.15 | 32,000 |
| Oct | 25 | 0.13 | 35,000 |
| Nov | 24 | 0.13 | 37,000 |
| Dec | 29 | 0.16 | 40,000 |
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