Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Statistics and Probability Expert

Deriving the regression equation, testing the model fit and obtains confidence interval for estimated values. 

The Apex Corporation produces corrugated paper. It has collected monthly data from January 2001 through March 2003 on the following two variables:

y, total manufacturing cost per month (in thousands of dollars) (COST)

x, total machine hours used per month (MACHINE)

Data shown below: make any analysis necessary to answer the following problems:

1. What is the approximate regression equation relating y to x?
2. What percentage of the variation in y has been describeed by the regression?
3. Are y and x linearly related? Conduct a hypothesis test to answer this problem and use a 5% level of significance. State the hypotheses to be tested, the decision rule, the test statistic, and your decision. What conclusion can be drawn from the result of the test?
4. Apply the equation developed to estimate the average manufacturing cost in a month with 350 machine hours. Find a point estimate and a 95 percent confidence interval estimate. How reliable do you believe this forecast might be?
5. Employ the equation developed to estimate the average manufacturing cost in a month with 550 machine hours. Find a point estimate and a 95 percent confidence interval estimate. How reliable do you believe this forecast might be?

COST

MACHINE

1102

218

1008

199

1227

249

1395

277

1710

363

1881

399

1924

411

1246

248

1255

259

1314

266

1557

334

1887

401

1204

238

1211

246

1287

259

1451

286

1828

389

1903

404

1997

430

1363

271

1421

286

1543

317

1774

376

1929

415

1317

260

1302

255

1388

281

 

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M922907

Have any Question? 


Related Questions in Statistics and Probability

The number of accidents occurring per week at a dangerous

The number of accidents occurring per week at a dangerous intersection, recorded over a period of 6 weeks are, 2, 1, 6, 5, 1, 3. What is the sample standard deviation for this data?

Scenario dr olson is interested in the effects of three

Scenario: Dr. Olson is interested in the effects of three different methods for losing weight in long-distance truck-drivers. He tested a sample of 60 truck drivers. Participants were randomly assigned to one of three gr ...

In the following cross-lagged panel design does x appear to

In the following cross-lagged panel design, does X appear to cause Y, does Y appear to cause X, do both variables influence each other, or are X and Y unrelated?

1 in a pulse rate research a simple random sample of 120

1. In a pulse rate research, a simple random sample of 120 men results in a mean of 80 beats per minute, and a standard deviation of 11 beats per minute. Based on the sample results, the researcher concludes that the pul ...

Connie wants to have an annuity payment of 2000 at the end

Connie wants to have an annuity payment of $2,000 at the END of every three months. How much should she deposit now at 6% interest, compounded quarterly, to yield this payment for 3 years? (Use Table 12-2 in your text) $ ...

Anbsppsychologist would like to examine the effects of a

A psychologist would like to examine the effects of a new drug on the activity level of animals. Three samples of rats are selected with n = 5 in each sample. The rats in the first sample serve as a control and do not ge ...

Research objectives to explore correlations between reward

Research Objectives To explore correlations between reward systems and team work attributes in the Saudi Arabian bank sector To explore relationships between reward systems and team work effectiveness in the Saudi Arabia ...

Two pollsters are conducting surveys to estimate the

Two pollsters are conducting surveys to estimate the proportion of Clarkston, Michigan citizens who support a bond issue to build a sports stadium. Both pollsters use the same methods; however, their sample sizes differ. ...

Data were collected from three populations using a

Data were collected from three populations using a completely randomized design. The following describes the sample data: n1 = n2 = n3 =6 R1 = 55 R2 = 64 R3 = 78 Conducting a test of hypothesis to verify whether there is ...

A teacher rated the reading ability level of six fourth

A teacher rated the reading ability level of six fourth grade children in a special math program. The reading level ratings were as follows: 3, 3, 2, 8, 4, and 4. a. Compute the mean, variance, and standard deviation (by ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro