Bundle: Finite Mathematics, Loose-leaf Version, 7th + WebAssign Printed Access Card for Waner/Costenoble's Finite Mathematics, 7th Edition, Single-Term
7th Edition
ISBN: 9781337604949
Author: Stefan Waner, Steven Costenoble
Publisher: Cengage Learning
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Textbook Question
Chapter 4.1, Problem 41E
Profit Annual revenues and production costs at Luddington’s Wellington Boots & Co. are shown in the following spreadsheet.
Use matrix algebra to compute the profits from each sector each year.
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Suppose a bank draws its venture capital funds annually
from three sources of income: business loans, auto loans,
and home mortgages. One spreadsheet shows the income
from each of these sources for the years 2023, 2024, and
2025, and the second spreadsheet shows the venture
capital for these years. If the bank uses a fixed percent of
its income from each of the business loans, find the
percent of income from each of these loans.
Spreadsheet 1
A
1
2
3
4
5
Years
2023
2024
2025
Spreadsheet 2
A
Years
2023
2024
2025
1234
B
с
Income from Loans ($millions)
Business
532
562
578
Auto
58
62
69
B
Capital (millions)
483.97
503.25
521.33
D
Home
682
695
721
C
The percent of income from business loans is
about%
The percent of income from auto loans is about
The percent of income from home loans is about
%.
(Do not round until the final answer. Then round to
the nearest integer as needed.)
Swain Athletic Gear (SAG) operates six retail outlets in a large Midwest city. One is in the center of the city on Cornwall Street and the others are scattered around the perimeter of the city. Management at SAG is concerned about declining sales and profitability of the Cornwall store and believes that outlet has been a drag on profits in recent years. The most recent income statement for the Cornwall store follows.
SWAIN ATHLETIC GEAR
Cornwall Street Store Income Statement
For the Year Ending February 28
Sales revenue
$ 12,300,000
Costs
Cost of goods sold
$ 5,289,000
Advertising
1,421,000
Store administrative salaries
975,000
Sales commissions
1,056,000
Leases and utilities
2,100,000
Allocated corporate support
1,622,000
Total costs
$ 12,463,000
Net loss before tax benefit
$ (163,000)
Tax benefit at 25%
(40,750)
Net loss
$ (122,250)
The CFO at SAG has asked for your advice on closing the Cornwall Street store. If the Cornwall Street store is…
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. In 2011, Hertz had 320,000 cars in service and annual revenue of approximately $4.2 billion. Suppose the following data show the number of cars in service (1,000s) and the annual revenue ($
millions) for six smaller car rental companies.
Cars
Revenue
Company
(1,000s) ($ millions)
Company A
11.5
120
Company B
10.0
133
Company C
9.0
102
Company D
5.5
37
Company E
4.2
42
Company F
3.3
34
(a) Develop a scatter diagram with the number of cars in service as the independent variable.
160T
160T
160
160-
140-
140
140
140
120
120
120
120-
100
100
100
100-
80
80
80
80
60
60
60
60
.. .
40
40
..
40
40
20
20
20
20
4
6 8
10
12
14
2
4
8
10
12
14
2
4 6
8
10
12
14
2
4
6 8
10
12
14
Cars in Service (1,000s)
Cars in Service (1,000s)
Cars in Service (1,000s)
Cars in Service (1,000s)
(b) What does the scatter diagram developed in part (a) indicate about the relationship between…
Chapter 4 Solutions
Bundle: Finite Mathematics, Loose-leaf Version, 7th + WebAssign Printed Access Card for Waner/Costenoble's Finite Mathematics, 7th Edition, Single-Term
Ch. 4.1 - In Exercises 110, find the dimensions of the given...Ch. 4.1 - Prob. 2ECh. 4.1 - Prob. 3ECh. 4.1 - Prob. 4ECh. 4.1 - In Exercises 110, find the dimensions of the given...Ch. 4.1 - In Exercises 110, find the dimensions of the given...Ch. 4.1 - Prob. 7ECh. 4.1 - Prob. 8ECh. 4.1 - Prob. 9ECh. 4.1 - In Exercises 110, find the dimensions of the given...
Ch. 4.1 - Solve for x,y,z,andw. [HINT: See Example 1.]...Ch. 4.1 - Prob. 12ECh. 4.1 - In Exercises 1320, evaluate the given expression....Ch. 4.1 - Prob. 14ECh. 4.1 - In Exercises 1320, evaluate the given expression....Ch. 4.1 - Prob. 16ECh. 4.1 - Prob. 17ECh. 4.1 - Prob. 18ECh. 4.1 - Prob. 19ECh. 4.1 - In Exercises 1320, evaluate the given expression....Ch. 4.1 - In Exercises 2128, evaluate the given expression....Ch. 4.1 - Prob. 22ECh. 4.1 - Prob. 23ECh. 4.1 - Prob. 24ECh. 4.1 - In Exercises 2128, evaluate the given expression....Ch. 4.1 - Prob. 26ECh. 4.1 - Prob. 27ECh. 4.1 - In Exercises 2128, evaluate the given expression....Ch. 4.1 - Prob. 29ECh. 4.1 - In Exercises 2936, use technology to evaluate the...Ch. 4.1 - Prob. 31ECh. 4.1 - Prob. 32ECh. 4.1 - Prob. 33ECh. 4.1 - Prob. 34ECh. 4.1 - In Exercises 2936, use technology to evaluate the...Ch. 4.1 - Prob. 36ECh. 4.1 - Prob. 37ECh. 4.1 - Prob. 38ECh. 4.1 - Inventory The Left Coast Bookstore chain has two...Ch. 4.1 - Inventory The Left Coast Bookstore chain discussed...Ch. 4.1 - Profit Annual revenues and production costs at...Ch. 4.1 - Revenue The following spreadsheet gives annual...Ch. 4.1 - Population Movement In 2000 the U.S. population,...Ch. 4.1 - Population Movement In 1990 the U.S. population,...Ch. 4.1 - Foreclosure Crisis Starting in 2010, on the heels...Ch. 4.1 - Foreclosure Crisis Starting in 2010, on the heels...Ch. 4.1 - Prob. 47ECh. 4.1 - Prob. 48ECh. 4.1 - Inventory Microbucks Computer Company makes two...Ch. 4.1 - Inventory Microbucks Computer Company, besides...Ch. 4.1 - Prob. 51ECh. 4.1 - Tourism in the 1990s Referring to the 1998 tourism...Ch. 4.1 - Prob. 53ECh. 4.1 - Prob. 54ECh. 4.1 - Prob. 55ECh. 4.1 - Prob. 56ECh. 4.1 - Prob. 57ECh. 4.1 - Prob. 58ECh. 4.1 - Prob. 59ECh. 4.1 - Prob. 60ECh. 4.1 - Prob. 61ECh. 4.1 - Prob. 62ECh. 4.1 - Prob. 63ECh. 4.1 - Prob. 64ECh. 4.1 - Prob. 65ECh. 4.1 - Prob. 66ECh. 4.2 - In Exercises 128, compute the products. Some of...Ch. 4.2 - Prob. 2ECh. 4.2 - In Exercises 128, compute the products. Some of...Ch. 4.2 - Prob. 4ECh. 4.2 - In Exercises 128, compute the products. Some of...Ch. 4.2 - In Exercises 128, compute the products. Some of...Ch. 4.2 - Prob. 7ECh. 4.2 - Prob. 8ECh. 4.2 - Prob. 9ECh. 4.2 - In Exercises 128, compute the products. Some of...Ch. 4.2 - Prob. 11ECh. 4.2 - In Exercises 128, compute the products. Some of...Ch. 4.2 - Prob. 13ECh. 4.2 - Prob. 14ECh. 4.2 - In Exercises 128, compute the products. Some of...Ch. 4.2 - Prob. 16ECh. 4.2 - Prob. 17ECh. 4.2 - In Exercises 128, compute the products. Some of...Ch. 4.2 - Prob. 19ECh. 4.2 - In Exercises 128, compute the products. Some of...Ch. 4.2 - Prob. 21ECh. 4.2 - Prob. 22ECh. 4.2 - In Exercises 128, compute the products. Some of...Ch. 4.2 - In Exercises 128, compute the products. Some of...Ch. 4.2 - In Exercises 128, compute the products. Some of...Ch. 4.2 - Prob. 26ECh. 4.2 - Prob. 27ECh. 4.2 - Prob. 28ECh. 4.2 - Prob. 29ECh. 4.2 - Repeat Exercises 29 with A=[0201002000020000].Ch. 4.2 - Exercises 3138 should be done in two ways: by hand...Ch. 4.2 - Prob. 32ECh. 4.2 - Prob. 33ECh. 4.2 - Exercises 3138 should be done in two ways: by hand...Ch. 4.2 - Exercises 3138 should be done in two ways: by hand...Ch. 4.2 - Prob. 36ECh. 4.2 - Exercises 3138 should be done in two ways: by hand...Ch. 4.2 - Exercises 3138 should be done in two ways: by hand...Ch. 4.2 - Prob. 39ECh. 4.2 - In Exercises 3944, calculate (a) P2=PP, (b)...Ch. 4.2 - Prob. 41ECh. 4.2 - Prob. 42ECh. 4.2 - Prob. 43ECh. 4.2 - Prob. 44ECh. 4.2 - In Exercises 4548, translate the given matrix...Ch. 4.2 - Prob. 46ECh. 4.2 - Prob. 47ECh. 4.2 - Prob. 48ECh. 4.2 - Prob. 49ECh. 4.2 - In Exercises 4952, translate the given systems of...Ch. 4.2 - Prob. 51ECh. 4.2 - Prob. 52ECh. 4.2 - Prob. 53ECh. 4.2 - Revenue Karen Sandberg, your competitor in...Ch. 4.2 - Real Estate The following table shows the cost of...Ch. 4.2 - Prob. 56ECh. 4.2 - Prob. 57ECh. 4.2 - Prob. 58ECh. 4.2 - Income Exercises 5962 are based on the following...Ch. 4.2 - Income Exercises 5962 are based on the following...Ch. 4.2 - Income Exercises 5962 are based on the following...Ch. 4.2 - Prob. 62ECh. 4.2 - Prob. 63ECh. 4.2 - Prob. 64ECh. 4.2 - Foreclosure Crisis Starting in 2010, on the heels...Ch. 4.2 - Foreclosure Crisis Starting in 2010, on the heels...Ch. 4.2 - Prob. 67ECh. 4.2 - Prob. 68ECh. 4.2 - Prob. 69ECh. 4.2 - Foreclosure Crisis Starting in 2010, on the heels...Ch. 4.2 - Prob. 71ECh. 4.2 - Profits Refer back to Exercise 71. It actually...Ch. 4.2 - Tourism in the 1990s The following table gives the...Ch. 4.2 - Prob. 74ECh. 4.2 - Population Movement In 2008 the population of the...Ch. 4.2 - Prob. 76ECh. 4.2 - Give an example of two matrices A and B such that...Ch. 4.2 - Prob. 78ECh. 4.2 - Prob. 79ECh. 4.2 - Prob. 80ECh. 4.2 - Prob. 81ECh. 4.2 - Prob. 82ECh. 4.2 - Prob. 83ECh. 4.2 - Prob. 84ECh. 4.2 - Prob. 85ECh. 4.2 - Prob. 86ECh. 4.3 - In Exercises 16, determine whether or not the...Ch. 4.3 - Prob. 2ECh. 4.3 - Prob. 3ECh. 4.3 - In Exercises 16, determine whether or not the...Ch. 4.3 - In Exercises 16, determine whether or not the...Ch. 4.3 - Prob. 6ECh. 4.3 - In Exercises 726, use row reduction to find the...Ch. 4.3 - In Exercises 726, use row reduction to find the...Ch. 4.3 - Prob. 9ECh. 4.3 - In Exercises 726, use row reduction to find the...Ch. 4.3 - Prob. 11ECh. 4.3 - In Exercises 726, use row reduction to find the...Ch. 4.3 - Prob. 13ECh. 4.3 - In Exercises 726, use row reduction to find the...Ch. 4.3 - In Exercises 726, use row reduction to find the...Ch. 4.3 - Prob. 16ECh. 4.3 - Prob. 17ECh. 4.3 - Prob. 18ECh. 4.3 - Prob. 19ECh. 4.3 - In Exercises 726, use row reduction to find the...Ch. 4.3 - Prob. 21ECh. 4.3 - Prob. 22ECh. 4.3 - Prob. 23ECh. 4.3 - Prob. 24ECh. 4.3 - In Exercises 726, use row reduction to find the...Ch. 4.3 - Prob. 26ECh. 4.3 - In Exercises 2734, compute the determinant of the...Ch. 4.3 - In Exercises 2734, compute the determinant of the...Ch. 4.3 - Prob. 29ECh. 4.3 - In Exercises 2734, compute the determinant of the...Ch. 4.3 - In Exercises 2734, compute the determinant of the...Ch. 4.3 - Prob. 32ECh. 4.3 - Prob. 33ECh. 4.3 - In Exercises 2734, compute the determinant of the...Ch. 4.3 - In Exercises 3542, use technology to find the...Ch. 4.3 - Prob. 36ECh. 4.3 - Prob. 37ECh. 4.3 - Prob. 38ECh. 4.3 - Prob. 39ECh. 4.3 - In Exercises 3542, use technology to find the...Ch. 4.3 - In Exercises 3542, use technology to find the...Ch. 4.3 - Prob. 42ECh. 4.3 - In Exercises 4348, use matrix inversion to solve...Ch. 4.3 - Prob. 44ECh. 4.3 - In Exercises 4348, use matrix inversion to solve...Ch. 4.3 - Prob. 46ECh. 4.3 - Prob. 47ECh. 4.3 - In Exercises 4348, use matrix inversion to solve...Ch. 4.3 - Prob. 49ECh. 4.3 - In Exercises 49 and 50, use matrix inversion to...Ch. 4.3 - Prob. 51ECh. 4.3 - Some of the following exercises are similar or...Ch. 4.3 - Some of the following exercises are similar or...Ch. 4.3 - Some of the following exercises are similar or...Ch. 4.3 - Investing: Inverse ETFs (Exchange Traded Funds)...Ch. 4.3 - Investing: Inverse ETFs (Exchange Traded Funds)...Ch. 4.3 - Investing: Lesser-Known Stocks Exercises 5758 are...Ch. 4.3 - Prob. 58ECh. 4.3 - Population Movement In 2009 the population of the...Ch. 4.3 - Population Movement Assume that the percentages...Ch. 4.3 - Rotations If a point (x,y) in the plane is rotated...Ch. 4.3 - Prob. 62ECh. 4.3 - Prob. 63ECh. 4.3 - Prob. 64ECh. 4.3 - Encryption Matrices are commonly used to encrypt...Ch. 4.3 - Prob. 66ECh. 4.3 - Prob. 67ECh. 4.3 - Prob. 68ECh. 4.3 - Prob. 69ECh. 4.3 - Prob. 70ECh. 4.3 - Prob. 71ECh. 4.3 - Derive the formula in Exercise 71 using row...Ch. 4.3 - Prob. 73ECh. 4.3 - Prob. 74ECh. 4.3 - Prob. 75ECh. 4.3 - Prob. 76ECh. 4.3 - Prob. 77ECh. 4.3 - Your friend has two square matrices A and B,...Ch. 4.4 - In Exercises 14, calculate the expected payoff of...Ch. 4.4 - In Exercises 14, calculate the expected payoff of...Ch. 4.4 - Prob. 3ECh. 4.4 - Prob. 4ECh. 4.4 - In Exercises 58, either a mixed column or mixed...Ch. 4.4 - In Exercises 58, either a mixed column or mixed...Ch. 4.4 - Prob. 7ECh. 4.4 - In Exercises 58, either a mixed column or mixed...Ch. 4.4 - In Exercises 914, reduce the given payoff matrix...Ch. 4.4 - In Exercises 914, reduce the given payoff matrix...Ch. 4.4 - In Exercises 914, reduce the given payoff matrix...Ch. 4.4 - Prob. 12ECh. 4.4 - In Exercises 914, reduce the given payoff matrix...Ch. 4.4 - Prob. 14ECh. 4.4 - In Exercises 1520, decide whether the game is...Ch. 4.4 - In Exercises 1520, decide whether the game is...Ch. 4.4 - In Exercises 1520, decide whether the game is...Ch. 4.4 - In Exercises 1520, decide whether the game is...Ch. 4.4 - Prob. 19ECh. 4.4 - In Exercises 1520, decide whether the game is...Ch. 4.4 - In Exercises 2124, find (a) the optimal mixed row...Ch. 4.4 - Prob. 22ECh. 4.4 - Prob. 23ECh. 4.4 - Prob. 24ECh. 4.4 - In Exercises 2532, set up the payoff matrix. Games...Ch. 4.4 - In Exercises 2532, set up the payoff matrix. Games...Ch. 4.4 - In Exercises 2532, set up the payoff matrix. War...Ch. 4.4 - In Exercises 2532, set up the payoff matrix. War...Ch. 4.4 - In Exercises 2532, set up the payoff matrix....Ch. 4.4 - In Exercises 2532, set up the payoff matrix....Ch. 4.4 - In Exercises 2532, set up the payoff matrix....Ch. 4.4 - Prob. 32ECh. 4.4 - Prob. 33ECh. 4.4 - More Retail Discount Wars Your Abercrom B mens...Ch. 4.4 - Factory Location22 A manufacturer of electrical...Ch. 4.4 - Crop Choice23 A farmer has a choice of growing...Ch. 4.4 - Study Techniques Your mathematics test is tomorrow...Ch. 4.4 - Prob. 38ECh. 4.4 - Prob. 39ECh. 4.4 - Textbook Writing You are writing a college-level...Ch. 4.4 - Prob. 41ECh. 4.4 - Prob. 42ECh. 4.4 - Wrestling Tournaments City Community College (CCC)...Ch. 4.4 - Wrestling Tournaments (Refer to Exercise 43.) One...Ch. 4.4 - The Battle of Rabaul-Lae25 In the Second World...Ch. 4.4 - Prob. 46ECh. 4.4 - Prob. 47ECh. 4.4 - Prob. 48ECh. 4.4 - Campaign Strategies27 Florida and Ohio are swing...Ch. 4.4 - Campaign Strategies Repeat Exercise 49, this time...Ch. 4.4 - Prob. 51ECh. 4.4 - Prob. 52ECh. 4.4 - Prob. 53ECh. 4.4 - Prob. 54ECh. 4.4 - Prob. 55ECh. 4.4 - Prob. 56ECh. 4.4 - Prob. 57ECh. 4.4 - Prob. 58ECh. 4.5 - Let A be the technology matrix A=[0.20.050.80.01],...Ch. 4.5 - Prob. 2ECh. 4.5 - Each unit of television news requires 0.2 units of...Ch. 4.5 - Production of one unit of cologne requires no...Ch. 4.5 - In Exercises 512, you are given a technology...Ch. 4.5 - In Exercises 512, you are given a technology...Ch. 4.5 - In Exercises 512, you are given a technology...Ch. 4.5 - In Exercises 512, you are given a technology...Ch. 4.5 - Prob. 9ECh. 4.5 - In Exercises 512, you are given a technology...Ch. 4.5 - Prob. 11ECh. 4.5 - In Exercises 512, you are given a technology...Ch. 4.5 - Prob. 13ECh. 4.5 - Prob. 14ECh. 4.5 - Let (IA)1=[0.50.100.21.20.10.10.71.6], and assume...Ch. 4.5 - Prob. 16ECh. 4.5 - In Exercises 17 and 18, obtain the technology...Ch. 4.5 - Prob. 18ECh. 4.5 - Campus Food The two campus cafeterias, the Main...Ch. 4.5 - Plagiarism Two student groups at Enormous State...Ch. 4.5 - Communication Equipment Two sectors of the U.S....Ch. 4.5 - Prob. 22ECh. 4.5 - Australia Economy Two sectors of the Australian...Ch. 4.5 - Prob. 24ECh. 4.5 - Mexico Economy Economists generally divide a...Ch. 4.5 - Prob. 26ECh. 4.5 - Prob. 27ECh. 4.5 - Prob. 28ECh. 4.5 - Mexico Economy Economists generally divide a...Ch. 4.5 - Mexico Economy Economists generally divide a...Ch. 4.5 - Exercises 3134 require the use of technology....Ch. 4.5 - Exercises 3134 require the use of technology....Ch. 4.5 - Prob. 33ECh. 4.5 - Prob. 34ECh. 4.5 - Prob. 35ECh. 4.5 - Can an external demand be met by an economy whose...Ch. 4.5 - Prob. 37ECh. 4.5 - Prob. 38ECh. 4.5 - Prob. 39ECh. 4.5 - Prob. 40ECh. 4.5 - Prob. 41ECh. 4.5 - Prob. 42ECh. 4 - For Exercises 110, let...Ch. 4 - For Exercises 110, let...Ch. 4 - For Exercises 110, let...Ch. 4 - For Exercises 110, let...Ch. 4 - For Exercises 110, let...Ch. 4 - For Exercises 110, let...Ch. 4 - Prob. 7RECh. 4 - Prob. 8RECh. 4 - For Exercises 110, let...Ch. 4 - For Exercises 110, let...Ch. 4 - In Exercises 1116, find the inverse of the given...Ch. 4 - In Exercises 1116, find the inverse of the given...Ch. 4 - In Exercises 1116, find the inverse of the given...Ch. 4 - Prob. 14RECh. 4 - In Exercises 1116, find the inverse of the given...Ch. 4 - In Exercises 1116, find the inverse of the given...Ch. 4 - In Exercises 1720, write the given system of...Ch. 4 - In Exercises 1720, write the given system of...Ch. 4 - In Exercises 1720, write the given system of...Ch. 4 - Prob. 20RECh. 4 - Prob. 21RECh. 4 - Prob. 22RECh. 4 - In Exercises 2124, solve the game with the given...Ch. 4 - Prob. 24RECh. 4 - Prob. 25RECh. 4 - Prob. 26RECh. 4 - In Exercises 2528, find the production vector X...Ch. 4 - Prob. 28RECh. 4 - Prob. 29RECh. 4 - Prob. 30RECh. 4 - Prob. 31RECh. 4 - Prob. 32RECh. 4 - Prob. 33RECh. 4 - Prob. 34RECh. 4 - Prob. 35RECh. 4 - Prob. 36RECh. 4 - Prob. 37RECh. 4 - Prob. 38RECh. 4 - OHaganBooks.com has two main...Ch. 4 - OHaganBooks.com has two main...Ch. 4 - Prob. 41RECh. 4 - OHaganBooks.com has two main...Ch. 4 - Publisher Marjory Duffin reveals that...Ch. 4 - Publisher Marjory Duffin reveals that...Ch. 4 - Prob. 45RECh. 4 - Prob. 46RECh. 4 - Prob. 47RECh. 4 - Prob. 48RECh. 4 - Some of the books sold by OHaganBooks.com are...Ch. 4 - Some of the books sold by OHaganBooks.com are...Ch. 4 - Some of the books sold by OHaganBooks.com are...Ch. 4 - Prob. 52RE
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- 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. In 2011, Hertz had 320,000 cars in service and annual revenue of approximately $4.2 billion. Suppose the following data show the number of cars in service (1,000s) and the annual revenue ($ millions) for six smaller car rental companies. Cars Revenue Company (1,000s) ($ millions) Company A 11.5 116 Company B 10.0 137 Company C 9.0 102 Company D 5.5 39 Company E 4.2 40 Company F 3.3 34 (a) Develop a scatter diagram with the number of cars in service as the independent variable. 160- 140- 160 160 160 120 140- 140- 140 100 120 120- 120- 80 100 100- 100- 60 80 80 80 40 60 60 60 20 40 40 40 20 20 20 4 6 8 10 12 14 2 4 6 8 10 12 14 2 4 6 8 10 12 14 4 6 8 10 12 14 Cars in Service (1,000s) Cars in Service (1,000s) Cars in Service (1,000s) Cars in Service (1,000s) (b) What does the scatter diagram developed in part (a) indicate about the relationship between the…arrow_forwardCompanies in the U.S. car rental market vary greatly in terms of the size of the fleet, the number of locations, and annual revenue. In 2011, Hertz had 320,000 cars in service and annual revenue of approximately $4.2 billion. Suppose the following data show the number of cars in service (1,000s) and the annual revenue ($ millions) for six smaller car rental companies. Cars Revenue Company (1,000s) ($ millions) Company A 11.5 118 Company B 10.0 137 Company C 9.0 102 Company D 5.5 39 Company E 4.2 40 Company F 3.3 32 (a) Develop a scatter diagram with the number of cars in service as the independent variable. 160T 160T 140 140 120 . 120 100- 100 80 80- 60 60 . 40 40 20 20- 4 6 8 10 Cars in Service (1,000) 0 6 8 10 0 4 6 8 10 12 14 Cars in Service (1,000) Cars in Service (1,000) (b) What does the scatter diagram developed in part (a) indicate about the relationship between the two variables? O There appears to be a negative linear relationship between cars in service (1,000s) and annual…arrow_forwardCompanies in the U.S. car rental market vary greatly in terms of the size of the fleet, the number of locations, and annual revenue. In 2011, Hertz had 320,000 cars in service and annual revenue of approximately $4.2 billion. Suppose the following data show the number of cars in service (1,000s) and the annual revenue ($ millions) for six smaller car rental companies. Cars Revenue Company (1,000s) ($ millions) Company A 11.5 120 Company B 10.0 137 Company C 9.0 98 Company D 5.5 35 Сompany E 4.2 40 Company F 3.3 32 (a) Develop a scatter diagram with the number of cars in service as the independent variable. 合160, 140- 160 160, 160, 140- 120- 140 140- 120 120 120 100 100 100 100 80 80 80 80 60 60 60 60 ... 40- 20- 40 .. 40 ... 40 20- 20- 20- 6 10 12 2 6 8 10 12 2 6 10 12 2 14 4 14 4 14 6 8 10 12 14 Cars in Service (1,000s) Cars in Service (1,000s) Cars in Service (1,000s) Cars in Service (1,000s) (b) What does the scatter diagram developed in part (a) indicate about the relationship…arrow_forward
- 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. In 2011, Hertz had 320,000 cars in service and annual revenue of approximately $4.2 billion. Suppose the following data show the number of cars in service (1,000s) and the annual revenue ($ millions) for six smaller car rental companies. Cars Revenue Company (1,000s) ($ millions) Company A 11.5 120 Company B 10.0 137 Company C 9.0 102 Company D 5.5 37 Company E 4.2 38 Company F 3.3 34 (a) Develop a scatter diagram with the number of cars in service as the independent variable. 160 T 2 160 160 T 160- 140 140 140- 140 120 120 120 120- 100 100 100- 100- 80 80 80 80- 60 60 60 60 ... 40 ... 40 40 ... 40 20 20 20 20 4 6. 8 10 12 14 6. 8 10 12 14 2 4 8 10 12 14 4 8 10 12 14 Cars in Service (1,000s) Cars in Service (1,000s) Cars in Service (1,000s) Cars in Service (1,000s) (b) What does the scatter diagram developed in part (a) indicate about the relationship…arrow_forwardCompanies in the U.S. car rental market vary greatly in terms of the size of the fleet, the number of locations, and annual revenue. In 2011, Hertz had 320,000 cars in service and annual revenue of approximately $4.2 billion. Suppose the following data show the number of cars in service (1,000s) and the annual revenue ($ millions) for six smaller car rental companies. Cars Revenue Company (1,000s) ($ millions) Company A 11.5 120 Company B 10.0 137 Company C 9.0 102 Company D 5.5 39 Company E 4.2 40 Company F 3.3 30 (a) Develop a scatter diagram with the number of cars in service as the independent variable. 160 T 160- 1601 140 140 140 120- E 120- 120- 100 100 100- 80 80 80 CO 60 60 60 40 40 40 20 20 20- 6 8 10 12 14 4 6 8 10 12 14 Cars in Service (1,000s). ● 4 6 8 10 12 14 Cars in Service (1,000) 4 Cars in Service (1,000) Ⓡ 0 4 6 8 10 14 O Cars in Service (1,000) (b) What does the scatter diagram developed in part (a) indicate about the relationship between the two variables? O There…arrow_forwardCompanies in the U.S. car rental market vary greatly in terms of the size of the fleet, the number of locations, and annual revenue. In 2011, Hertz had 320,000 cars in service and annual revenue of approximately $4.2 billion. Suppose the following data show the number of cars in service (1,000s) and the annual revenue ($ millions) for six smaller car rental companies. Company Cars (1,000s) Revenue ($ millions) Company A 11.5 116 Company B 10 137 Company C 9 102 Company D 5.5 39 Company E 4.2 38 Company F 3.3 30 (a) Develop a scatter diagram with the number of cars in service as the independent variable. (b) What does the scatter diagram developed in part (a) indicate about the relationship between the two variables? (c) Use the least squares method to develop the estimated regression equation that can be used to predict annual revenue (in $ millions) given the number of cars in service (in 1,000s). (Round your numerical values to three decimal…arrow_forward
- 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. In 2011, Hertz had 320,000 cars in service and annual revenue of approximately $4.2 billion. Suppose the following data show the number of cars in service (1,000s) and the annual revenue ($ millions) for six smaller car rental companies. Company Cars(1,000s) Revenue($ millions) Company A 11.5 116 Company B 10.0 133 Company C 9.0 98 Company D 5.5 37 Company E 4.2 40 Company F 3.3 32 a.Use the least squares method to develop the estimated regression equation that can be used to predict annual revenue (in $ millions) given the number of cars in service (in 1,000s). (Round your numerical values to three decimal places.) b. For every additional car placed in service, estimate how much annual revenue will change (in dollars). (Round your answer to the nearest integer.) Annual revenue will increase by $ , for every additional car placed in…arrow_forwardCompanies in the U.S. car rental market vary greatly in terms of the size of the fleet, the number of locations, and annual revenue. In 2011, Hertz had 320,000 cars in service and annual revenue of approximately $4.2 billion. Suppose the following data show the number of cars in service (1,000s) and the annual revenue ($ millions) for six smaller car rental companies. Company Cars(1,000s) Revenue($ millions) Company A 11.5 118 Company B 10.0 137 Company C 9.0 102 Company D 5.5 39 Company E 4.2 40 Company F 3.3 32 (a) Develop a scatter diagram with the number of cars in service as the independent variable. A scatter diagram has 6 points plotted on it. The horizontal axis ranges from 0 to 14 and is labeled: Cars in Service (1,000s). The vertical axis ranges from 0 to 160 and is labeled: Annual Revenue ($ millions). The points are plotted from left to right in an upward, diagonal direction starting from the lower left corner of the diagram and are between 3 to 12 on…arrow_forwardCompanies in the U.S. car rental market vary greatly in terms of the size of the fleet, the number of locations, and annual revenue. In 2011, Hertz had 320,000 cars in service and annual revenue of approximately $4.2 billion. Suppose the following data show the number of cars in service (1,000s) and the annual revenue ($ millions) for six smaller car rental companies. Company Cars(1,000s) Revenue($ millions) Company A 11.5 118 Company B 10.0 133 Company C 9.0 98 Company D 5.5 37 Company E 4.2 40 Company F 3.3 30 (a) Develop a scatter diagram with the number of cars in service as the independent variable. A scatter diagram has 6 points plotted on it. The horizontal axis ranges from 0 to 14 and is labeled: Cars in Service (1,000s). The vertical axis ranges from 0 to 160 and is labeled: Annual Revenue ($ millions). The points are plotted from left to right in an upward, diagonal direction starting from the lower left corner of the diagram and are between 3 to 12 on…arrow_forward
- Define mathematical models.arrow_forwardTwo Tutors Tianna and Liam both charge for tutoring. Information about Liam's total charge for totoring ls shown on the grid below, Total Charge vs. Time Spent Tutoring Lim 120 100 60 20 3 14 Time spent tutoring (hours) Tianna's total charge is made up of a base fee of $40, and $10 per hour of tutoring. They both start a tutoring session at the same time one day, and they both spend the same amount of ime tutoring. IF Tianna's and Liam's charges were the same, how many hours did they each spend tutoring? Justity your answer. hours tutoring. Tianna and Liam each spent Total charge (S)arrow_forwardThe electric power consumed each month by a chemical plant is thought to be related to the average ambient temperature (x₁), the number of days in the month (x₂), the average product purity (x3), and the tons of product produced (x4). The past year's historical data are available and are presented in the following table: Y 240 236 270 274 301 316 270 296 267 276 288 261 25 31 45 60 65 72 80 84 75 60 50 38 X2 24 21 24 25 25 26 25 25 24 25 25 23 Fit a multiple linear regression to predict power (y) using x1, X2 X3, and X4. Calculate R2 for this model. Round your answer to 3 decimal places. 91 90 88 87 91 94 87 86 88 91 90 89 X4 100 95 110 88 94 99 97 96 110 105 100 98arrow_forward
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