the usarretal mnet vary greatly in terms ofthe sine ofthe fleet, the number oflo

Question

the usarretal mnet vary greatly in terms ofthe sine ofthe fleet, the number ofloasons, ad anual and annual revenue of soproximabely $4 2 billion. The following data show companies (Auto Rental News website, August7,2012) revenue. In 2011 Hertz had 320,000 cars in service the number of cars in service (1000s) and the annual nevenve (Smitions) for six smaller car renta Excel files data14-09. Cars (1000%) Rvense (Sesillions) U-Save Auto Rental Sydom, c Payless Car Rental System,lc ACE Rent A Car Ret-A Wrock of America 115 100 gle Rest-A Car S required, enter negative values as negative numbers o a. Select a scatter dagram with the number of cas in service as the independent

Explanation / Answer

Excel output:

c) Y'= -17.005+ 12.966*Cars

d) For every additional unit of the car placed in service, estimate how much annual income will change?

For every additional unit of a car placed in service, 12.96619892($ millions) = $ 12966198.926

e) X=11,000

Y'= -17.005+ 12.966*Cars

Y'= -17.005+ 12.966*11= $ 125.623246 Millions

SUMMARY OUTPUT Regression Statistics Multiple R 0.949369772 R Square 0.901302965 Adjusted R Square 0.876628706 Standard Error 16.14798959 Observations 6 ANOVA df SS MS F Significance F Regression 1 9524.969729 9524.969729 36.52806633 0.003780237 Residual 4 1043.030271 260.7575677 Total 5 10568 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept -17.00494219 16.89322999 -1.006612839 0.371071288 -63.9080679 29.89818352 Cars 12.96619892 2.145355849 6.043845326 0.003780237 7.009736177 18.92266167

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