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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
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
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