Page 6 of 7 vino C. 6. Bendrix Company manufactures parts for automobiles. To get a better understanding of overhead costs, the factory manager tracked total overhead costs (in dollars per month) for the past 36 months. The manager also collected data on machine hours (in hours per month). 140000 120000 100000 80000 60000 40000 moboboooddaion Of dini yio sieving d blorezuod pontedigion & sconto 20000 0 1000 1200 1400 1600 1800 2000 Page 7 of 7 Write down the equation of the estimated regression line in the context of this question. [1 mark] dando The data are summarized with various Excel outputs. sbiv/0 d. Interpret the value of the slope in the context of this study. [2 marks] Parameter Intercept Slope A s solz shem Coefficients 48621.355 34.702 Standard Error 10725.333 7.300 t Stat 4.533 4.754 vovuz A. tal sumun t to eluse e litranscorb Standard Error of Est = 8584.739 Correlation Coefficient = 0163 0.93 a. What are the response and explanatory variables? [2 marks] pham 1) Sbozu zw bortern gollers W e. Predict the average overhead cost in dollars when the machine hours per month is 1500. [1 mark] b. What conclusion can we draw about this relationship? Show all steps of a hypothesis test and use a decision point to support your conclusion. (The observed correlation coefficient was 0.93) [3 Marks] g. Is it reasonable to predict the average overhead cost in dollars when the machine hours per month is 2000? Justify your answer? [1 mark] PIC COLLAGE