The Toyota Camry is one of the best-selling cars in North America. The cost of a previously owned Camry depends upon many factors, including the model year, mileage, and condition. To investigate the relationship between the car’s mileage and the sales price for a 2007 model year Camry, the following data show the mileage and sales price for 19 sales (PriceHub website, February 24, 2012). Suppose that you are considering purchasing a previously owned 2007 Camry that has been driven 60,000 miles. What price you would offer to the seller and why?
|Miles (1000s)||Price ($1000s)|
Your report should have the following qualities:
1. Your report must be in a genuine report format with problem definition, analysis and final conclusion.
2. All important analysis steps needs to be followed to arrive at the model to be used for prediction. Attach the details of your analysis at the end of your report. Very simplistic analysis with no sufficient details is assigned a near zero credit. Just running excel does not guarantee any credit.
3. The report should including the discussions of the scatter diagram, regression equation, test for significant relationship, coefficient of determination, correlation coefficient, interpretation of the slope of the regression equation, 95% prediction interval and the 95% confidence interval of the mean sales price given mileage.
Case Study 14.3 The Navy Scraps Development of Its Showpiece Warship—Until the Next Bad Idea, Page 500.
- The U.S. Department of Defense has a long history of sponsoring projects that have questionable usefulness. If you were assigned as a member of a project review team for a defense project, what criteria would you insist such a project has in order to be supported? In other words, what are the bare essentials needed to support such a project?
- Why, in your opinion, is there such a long history of defense projects overshooting their budgets or failing some critical performance metrics? (Consider other project cases in this text, including the Expeditionary Fighting Vehicle discussed in Chapter 5.)
- “The mystery is not that the Zumwalt was canceled. The mystery is why it took so long for it to be canceled.” Do you agree with this assessment? Why or why not?
- Google “criticisms of the Littoral Combat Ship” and identify some of the problems that critics have listed. In light of these problems, why do you think the Navy has pressed ahead with the development of the LCS?
- 5-7 pages in length (excluding cover page, abstract, and reference list)
- APA format, Use the APA template located in the Student Resource Center to complete the assignment.
- Please use the Case Study Guide as a reference point for writing your case study.