He has investigated several banks. Depending on the market at the time and his credit rating, he expects the loan interest rate to be 4.65%, 4.80% or 5% (APR). Hope has gathered data from other trucking companies to estimate how much he can charge in this market. The data is shown after the problem. You should be able to build a linear regression model that shows how much to charge per mile and the adjustment to make if the cargo is refrigerated. (To find the charges for the reefer truck, simply make the reefer variable equal to one if the truck is refrigerated, 0 if it is dry. This is called an indicator variable.)
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He has investigated several banks. Depending on the market at the time and his credit rating, he…
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