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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