30. Significance of Fleet Size on Rental Car Revenue. Companies in the U.S. car rental market vary greatly in terms of the size of the fleet, the number of locations, and annual revenue. The following data were used to investigate the relationship between the number of cars in service (1000s) and the annual revenue ($ millions) for six smal- ler car rental companies (Auto Rental News website). Cars Revenue Company (1000s) ($ millions) U-Save Auto Rental System, Inc. Payless Car Rental System, Inc. ACE Rent A Car 11.5 118 10.0 135 9.0 100 Rent-A-Wreck of America 5.5 37 Triangle Rent-A-Car Affordable/Sensible 4.2 40 3.3 32 Source: Auto Rental News website, (https://www.autorentalnews.com/custom-content/253201/research-statistics) With x = cars in service (1000s) and y = annual revenue ($ millions), the estimated regression equation is ŷ = – 17.005 + 12.966x. For these data SSE = 1043.03 and SST = 10,568. Do these results indicate a significant relationship between the number of cars in service and the annual revenue?
30. Significance of Fleet Size on Rental Car Revenue. Companies in the U.S. car rental market vary greatly in terms of the size of the fleet, the number of locations, and annual revenue. The following data were used to investigate the relationship between the number of cars in service (1000s) and the annual revenue ($ millions) for six smal- ler car rental companies (Auto Rental News website). Cars Revenue Company (1000s) ($ millions) U-Save Auto Rental System, Inc. Payless Car Rental System, Inc. ACE Rent A Car 11.5 118 10.0 135 9.0 100 Rent-A-Wreck of America 5.5 37 Triangle Rent-A-Car Affordable/Sensible 4.2 40 3.3 32 Source: Auto Rental News website, (https://www.autorentalnews.com/custom-content/253201/research-statistics) With x = cars in service (1000s) and y = annual revenue ($ millions), the estimated regression equation is ŷ = – 17.005 + 12.966x. For these data SSE = 1043.03 and SST = 10,568. Do these results indicate a significant relationship between the number of cars in service and the annual revenue?
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 23PPS
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Transcribed Image Text:30. Significance of Fleet Size on Rental Car Revenue. Companies in the U.S. car rental
market vary greatly in terms of the size of the fleet, the number of locations, and
annual revenue. The following data were used to investigate the relationship between
the number of cars in service (1000s) and the annual revenue ($ millions) for six smal-
ler car rental companies (Auto Rental News website).
Cars
Revenue
Company
(1000s)
($ millions)
U-Save Auto Rental System, Inc.
Payless Car Rental System, Inc.
ACE Rent A Car
11.5
118
10.0
135
9.0
100
Rent-A-Wreck of America
5.5
37
Triangle Rent-A-Car
Affordable/Sensible
4.2
40
3.3
32
Source: Auto Rental News website, (https://www.autorentalnews.com/custom-content/253201/research-statistics)
With x = cars in service (1000s) and y = annual revenue ($ millions), the estimated
regression equation is ŷ = – 17.005 + 12.966x. For these data SSE = 1043.03 and
SST = 10,568. Do these results indicate a significant relationship between the number
of cars in service and the annual revenue?
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