*Show step-by-step in Excel** An automobile rental company wants to predict the yearly maintenance expense (Y) for an...

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An automobile rental company wants to predict the yearlymaintenance expense (Y) for an automobile using the number of milesdriven during the year ( X1 ) and the age of the car ( X2 , inyears) at the beginning of the year. The company has gathered thedata on 10 automobiles and the regression information from Excel ispresented below. Use this information to answer the followingquestions.
Summary measures Multiple R 0.9689 R-Square 0.9387 Adj R-Squared0.9212 StErr of Estimate 72.218
Regression Coefficient
Coefficient std err t-value p-value
constant 33.796 48.181 0.7014 0.5057
Miles Driven 0.0549 0.0191 2.8666 0.0241
Age of Car 21.467 20.573 1.0434 0.3314
a. Use the information above to write out the estimated linearregression model.
b. Interpret each of the estimated coefficients of theregression model in part (a).
c. Identify and interpret the coefficient of determination ( R2) and the adjusted R2 .
d. Does the given set of explanatory variables do a good job ofexplaining changes in the maintenance costs? Explain why or whynot.

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SolutionA the estimated linear regression model is yearly maintenance expense 3379600549Miles Driven21467Age of car SolutionB b Interpret each of the estimated coefficients of the See Answer

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	Regression Coefficient

	Coefficient	std err	t-value	p-value
constant	33.796	48.181	0.7014	0.5057
Miles Driven	0.0549	0.0191	2.8666	0.0241
Age of Car	21.467	20.573	1.0434	0.3314

*****Show step-by-step in Excel****** An automobile rental company wants to predict the yearly maintenance expense (Y) for an...