The predicted value (in dollars) for maintenance expenses when a truck is 7 years old is $626.3.
In this question,
The equation for least regression line to this data set is
y' = 76.82x + 88.56 ------- (1)
Number of years, x = 7
The general form of equation for least regression line is
y' = a + bx
where y is the dependent variable, x is the independent variable, a is the intercept of regression line and b is the slope of regression line.
The predicted value (in dollars) for maintenance expenses when a truck is 7 years old can be calculated as
y' = 76.82x + 88.56
Substitute the value of x in the above equation, we get
y' = 76.82(7) + 88.56
y' = 537.74 + 88.56
y' = 626.3
Hence we can conclude that the predicted value (in dollars) for maintenance expenses when a truck is 7 years old is $626.3.
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