In: Finance
In a manufacturing process the assembly line speed (feet per minute)was thought to affect the number of defective parts found during the inspection process. To test this theory, managers devised a situation in which the same batch of parts was inspected visually at a variety of line speeds. The collected the following data:
Line Speed | Number of Defective Parts Found |
20 | 21 |
20 | 19 |
40 | 9 |
30 | 15 |
60 | 5 |
40 | 8 |
Use four digits of accuracy for your answers.Use the data to
develop an estimated regression equation that could be used to
predict the number of defective parts found, given the line speed.
What is the estimated regression model (Enter b0 and b1)? How much
of the variation in the number of defective parts is explained by
your regression model (R Square)?
1) b0 - Intercept
2) b1
3) R Square
Answer:
Estimated regression model:
1) b0 Intercept = 26.9855
2) b1 = -0.4043
The regression equation will be:
Number of Defective Parts Found = 26.9855 - 0.4043 * Line Speed
3) Variation in the number of defective parts is explained by your regression model (R Square) = 90.03%
Working:
Using Excel Regression analysis we get the following results: