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Transit Statistics

The regional transit authority for a major metropolitan area wants to determine whether there is any relationship between the age of a bus and the annual maintenance cost. A sample of 10 buses resulted in the following data. DATA fileAge of Bus (years)Maintenance Cost ($)VIVAAWNNNN-350370480520590550750800790950

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a. Develop the least squares estimated regression equation (to 4 decimals, if necessary).y =220132 Age
b. Test to see whether the two variables are significantly related with a = .05.Reject null hypothesis

c. Did the least squares line provide a good fit to the observed data?Yes
d. Develop a 95% prediction interval for the maintenance cost for a specific bus that is 4 years old (to 1 decimal).3.5to682X

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