Cost concepton february 3, clairemont repair service extended an offer of $360,000 for land that had been priced for sale at $400,000. on february 28, clairemont repair service accepted the seller’s counteroffer of $380,000. on october 23, the land was assessed at a value of $390,000 for property tax purposes. on january 15 of the next year, clairemont repair service was offered $450,000 for the land by a national retail chain. at what value should the land be recorded in clairemont repair service’s records?

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 $4.2 billion. the following data show the number of cars in service (1000s) and the annual revenue ($ millions) for six smaller car rental companies (auto rental news website, august 7, 2012). excel file: data14-09.xls if required, enter negative values as negative numbers. a. select 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 (to 3 decimals). ŷ = + x d. for every additional car placed in service, estimate how much annual revenue will change. by $ e. fox rent a car has 11,000 cars in service. use the estimated regression equation developed in part (c) to predict annual revenue for fox rent a car. round your answer to nearest whole value. $ million hide feedback partially correct