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Given the following information, use Excels Regression tool and scatter plot tool to: a. What is the 95% prediction interval for the true overhead when
Given the following information, use Excels Regression tool and scatter plot tool to:
a. What is the 95% prediction interval for the true overhead when the number of units produced is 1,000?
b. 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 |
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