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What percentage of variation in maintenance costs is explain

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Question - The statistician of Sir K has developed the following cost-prediction equation, using observations from 12,000 to 30,000 machine hours:

Y = P 236,837 + 3.7625X

R-squared = 0.81

Standard error = P 24,363

Several 'outliers' are noted within tolerable limits

Y (dependent variable) = total maintenance cost

X (independent variable) = machine hours

A. What percentage of the variation in maintenance costs is explained by the independent variable?

a. 95% c. 81% b. 90% d. 66%

B. Compute the estimated maintenance cost at 20,000 machine hours.

a. P 236,837 c. P 312,087 b. P 252,790 d. P 336,450

Reference no: EM132850881

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