The Apex corporation produces corrugated paper. It has collected monthly data from January 2001 through March...

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)

The data are shown below.

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

answer the following questions

a. State the least squares regression line.

b. What percentage of variation in ? has been explained by the regression?

c. Are ? and ? linearly related? Conduct a hypothesis test at the 5% significance level by completing the following steps:

i. State the null and alternative hypotheses

ii. State the value of the test statistic

iii. Provide the p-value

iv. Do you reject the null hypothesis or not? Explain your answer.

v. State you conclusion within context of the problem.

d. Fill in the blanks for the following statement: “I am 95% confident that the average manufacturing cost at the Apex corporation for all months with 350 total machine hours is between ____ and ____.”

Please show me the steps. Thank you

Solutions

Expert Solution

milcah answered 1 year ago

Next > < Previous

Related Solutions

The Apex corporation produces corrugated paper. It has collected monthly data from January 2001 through March...

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) The data are shown below. y x 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...

This sheet contains data for the monthly returns of the Dow from March 2001 to November...

This sheet contains data for the monthly returns of the Dow from March 2001 to November 1928 (Source Yahoo!/Finance/^DJI/Historic Data). (A) Run descriptive statistics to calculate the mean and standard deviation. Choose cell D9 for the output range. For the next three questions remember to reference cells when data you need are already calculated. Do not retype the data as this could lead to rounding errors. USING EXCEL FOR ANSWERS Mean 0.005563612 Standard Error 0.001761236 Median 0.008674026 Mode #N/A Standard...

The following data has been extracted from the records of PURPLE plc at 31 March 2001;...

The following data has been extracted from the records of PURPLE plc at 31 March 2001; K Turnover 18,108,488 Cost of sales 16,471,616 Distribution costs 864,531 Administration expenses 1,494,228 Surplus on sale of fixed assets 11,054 Interest receivable 21,721 Losses due to seizure of imported sugar 351,890 Overdraft interest 139,001 Loan interest (Loan repayable 31 March 2009) 162,299 Corporation tax for the year 8,101 Dividends (interim 0.25p per share) 17,292 Transfer from reserves 1,389,105 You are also given the following...

The controller of Hall Industries has collected the following monthly expense data for use in analyzing...

The controller of Hall Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs. Month Total Maintenance Costs Total Machine Hours January $9,500 5,250 February 10,840 6,000 March 15,360 9,000 April 19,984 11,850 May 13,000 7,500 June 20,300 12,000. 1. Determine the variable-cost components using the high-low method. (Round variable cost to 2 decimal places e.g. 12.25.) Variable cost per machine hour= 2. Determine the fixed cost components using the high-low method....

Data on monthly spending of 50 individuals on fruits (in dollars) has been collected and researchers...

Data on monthly spending of 50 individuals on fruits (in dollars) has been collected and researchers want to know the relationship with one’s annual income of each individual (in thousands of dollars), whether they are male (male =1 if yes, 0 otherwise) and whether they are college graduates (COLLEGE=1 if yes, 0 otherwise). The analysis of data is presented below: Regression Statistics Multiple R 0.745 R Square 0.569 Adjusted R Square 0.546 Standard Error 17.126 Observations 50 ANOVA df SS...

The controller of Oriole Industries has collected the following monthly expense data for use in analyzing...

The controller of Oriole Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs. Month Total Maintenance Costs Total Machine Hours January $2,860 320 February 3,160 370 March 3,760 520 April 4,660 670 May 3,360 520 June 5,260 720 Determine the variable cost components using the high-low method. (Round answer to 2 decimal places e.g. 2.25.) Variable cost per machine hour $ Determine the fixed cost components using the high-low method. Total...

The controller of Hall Industries has collected the following monthly expense data for use in analyzing...

The controller of Hall Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs. Month Total Maintenance Costs Total Machine Hours January $2,640 3,500 February 3,000 4,000 March 3,600 6,000 April 4,500 7,900 May 3,200 5,000 June 4,620 8,000 Determine the variable-cost components using the high-low method. (Round answer to 2 decimal places e.g. 2.25.) Variable cost per machine hour $enter the variable cost per machine hour in dollars rounded to 2...

The controller of Blossom Industries has collected the following monthly expense data for analyzing the cost...

The controller of Blossom Industries has collected the following monthly expense data for analyzing the cost behavior of electricity costs. Total Electricity Costs Total Machine Hours January $1,720 210 February 2,990 320 March 3,560 500 April 4,800 695 May 3,220 500 June 4,930 770 July 4,040 635 August 3,800 570 September 5,050 660 October 4,350 630 November 3,360 320 December 6,150 790 Determine the fixed- and variable-cost components using regression analysis

The controller of Blossom Production has collected the following monthly expense data for analyzing the cost...

The controller of Blossom Production has collected the following monthly expense data for analyzing the cost behavior of electricity costs. Total Electricity Costs Total Machine Hours January $2,660 230 February 3,050 330 March 3,520 460 April 4,770 690 May 3,190 420 June 4,960 790 July 4,030 650 August 3,870 590 September 5,040 670 October 4,270 610 November 3,260 330 December 8,460 810 (a) Determine the fixed- and variable-cost components using the high-low method. Fixed-costs $ Variable-costs $ eTextbook and Media...

The controller of Dousmann Industries has collected the following monthly expense data for use in analysing...

The controller of Dousmann Industries has collected the following monthly expense data for use in analysing the cost behavior of maintenance cost. Month Total Maintenance costs Total Machine Hours January 2,750 3,500 February 3,000 4,000 March 3,600 6,000 April 4,500 7,900 May 3,200 5,000 June 5,000 8,000 A) Determine the fixed and variable cost components using the high low method. B) Prepare a graph showing the behavior of maintenance costs, and identify the fixed and variable elements. Use 2,000- hour...

Subjects