Question

Rental Returns 2,400 2,500 2,700 3,000 3,600 5,100 5,500 5,500 4,700 4,000 2,200 2,800 Car Wash Costs $ 11,100 $ 13,200 $ 11,900o 7 $ 14,400 $ 16,300 $ 23,50oo $ 22,300 $ 22,400 $ 22,900 $ 21,400 $ 10,80O $ 14,600

Using least - square regression, estimate the variable costs per rental return and the monthly fixed costs incurred to washed cars

Answer 1

Rental Return Car Wash Costs 2400 2500 2700 3000 3600 5100 5500 5500 4700 4000 2200 2800 11100 13200 11900 14400 16300 23500 22300 22400 22900 21400 10800 14600 30000 3.8524х + 2941.3 R2 0.9109 25000 20000 5000 10000 5000 1000 2000 3000 4000 5000 6000

SUMMARY OUTPUT Regression Statistics MultipleR R Square Adjusted R Square Standard Error Observations 0.954433339 0.910942999 0.902037299 1580.0333 12 ANOVA MS gnificance F Regression Residual Total 1 255361614 2.55E+08 102.2876 1.43E-06 10 24965052.32496505 11280326667 Intercept X Variable 1 coefficients tandard Erro t Stat P-value Lower 95%L r 95%ower 95.09p er 95.0% 2941.263076 1469.24767 2.001884 0.073158332.425 6214.951-332.425 6214.951 3.852382797 0.38090605 10.113731.43E-06 3.003671 4.701094 3.003671 4.701094