Given the following information, use Excels Regression tool and scatter plot tool to:

(a) Fit a line to the data that also displays the equation and R2;

(b) Compute the regression statistics and predictive function for this data;

(c) Identify R square (R2) and the standard error of the estimate;

(d) What is the estimated overhead if 1,000 units are produced?

(e) What is the 95% prediction interval for the true overhead when the number of units produced is 1,000?

(f) What is the residual for the fifth observation (round to two decimal places)?

Month Units produced Manuf. Overhead 1 500 131,000 2 600 135,000 3 400 104,000 4 300 76,000 5 800 186,000 6 900 190,100 7 600 150,000 8 400 98,000 9 300 78,000 10 200 60,000 11 400 108,000 12 600 152,000 13 700 158,000 14 500 134,380 15 300 86,000 16 200 60,000