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I am trying my best to follow what my instructor is talking about but it seems I am either not understanding or inputting the formulas
I am trying my best to follow what my instructor is talking about but it seems I am either not understanding or inputting the formulas wrong because I am getting completely different results. I am at a complete loss, I know how to do a) in excel but the rest I have no clue...
Math 104 Homework 3 - Fall 2021 Estimating Setup Time Sherry is a production manager for a small manufacturing shop and is interested in developing a predictive model to estimate the time to produce an order of a given size - that is, the total time to produce a certain quantity of the product. She has collected the data on the total time to produce 30 different orders of various quantity in the file Setup. a) Develop a scatter diagram (scatter plot) with quantity as the independent variable. Be sure to label the graph and the axes. b) Compute the sample data correlation coefficient. Comment on the form, direction, and the strength of the relationship. c) Test for a significance of the positive correlation. Use a = 0.05. [Report the hypotheses, t-test statistic, the p-value and/or the critical value, state your decision and conclusion.] d) Develop the estimated regression equation. Interpret the slope and the y-intercept. e) Use the estimated regression equation to predict the total time to produce the order of size 240. What is the residual for this observation? f) Report the standard error of the estimate, S. Interpret its value. g) Report the coefficient of determination. Interpret the meaning of the value. h) Report a 95% confidence interval for the slope coefficient. i) Test for a significance of the positive slope. Use a = 0.05. [Report the hypotheses, t-test statistic, the p-value and/or the critical value, state your decision and conclusion.] j) Test for the overall significance of the model. Use a = 0.05. [Report the hypotheses, F-test statistic, the p-value, state your decision and conclusion.]Step by Step Solution
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