Please Help I cant figure this last question on my homework.
A subsidiary of Elektla Electronics has developed new software that allows Windowsshased personal computers to run all Apple {l.e., Mac, lPhone, iFad, etc.) and Druid applications. Elektra has dolledned prellmlhary data on the weekly total cost of producing the new product at a number of different leveb of production. Cost data are available in the worksheet entitled Software Cost. a) Generate a scatterplot in order to understand the nature of the relationship between weekly quantity produced and weekly total cost. Use this lnlon'natlorl to oomplete the statements below. Aeoordlng to the scatterplot, weekly total ME] atrst, then REmr a while. and then It begins to E] , as the quantity produced increases. There appears to he pehd[s) or curve(s) In the data which suggests thata [:] regression model is appropriate. in Use the data to flt three separate legression models. Forthe rst model, t the 2rld order polynomial regression model to predict weekly total oost. Forthe second model, t the 3rd order polynomial regresslon model to predict weekly total cost. For the third model. tthe 4th order polynomial regression model to predict weeklyI total oost. Provide summary measures for each model separately in the table below. (Enter your R2 values as percents In two declmal planes and enter your standard errors in three decimal places.) 2 Model g2 Ram SE Second70rder Model '51: % Third-Order Model '51: % FourthsDrder Model % % Aocordirlg to your analysls so far, summarize your results. L) According to Ray}. the thlrd-order model ls clearlyI worse than either the semnd or fou rth-order models, however, results are not so clear oorllcernlrlg whether the second or fourth-order model ls best. L) According to Ray}. the second-order model is clearly superior to elther the thlrd or fourth-order models. U According to Rid)? the fourth-order model ls clearly superlor to either the seoond or thlrd-order models. U According to Rid}. the thlrd-order model ls clearlyI superior to elther the second or fourth-order models. u Aocording to Rid}. the secondsorder rrlodel is clearly worse than either the third or fou rthsorder models, however. results are not so clear ooncerninrg whether the third or fourthorder model is best. u Aocording to Rid}. the fourthrorder model is clearly worse than either the semrld or thirdsorder models, however. results are not so clear ooncerninrg whether the seoond or thirdrorder model is best. e) Perform the appropriate statistlral test to test whether the fourthorder model explains a statistlrally signioant amountof Va nation in total weekly mst allows and beyond of that explained by the thirdorder model. lee a 5% sig hil'lcance level. State the appropriate test statistic name, degrees of freedom, test statlstic value, and the associated p-value (Enter your degrees oi freedom as a whole number, the test slatlstic value to three decimal planes, and tile D-VEIUE In four decimal places). --Se|st.1-- ' >= m- State your dEClEiDrl. Q The fourth-order mudel explains an ir3ignicant amount of varlation in total weekly mst compared to the third-order model. Therefore, the fourth-order term in the model is not needed and a slmpler model '3 prelerred. D The fourth-order model explains a signicant amount 0' varlatlon in total weekly cost compared to thet'nrd-order model. Therefore, the fourth-order term in the model is not needed and a slmpler model preferred. C) The fourli'l-order model explains a signicant amount of variatlon in total weekly mst mmpared to thethird-order model. Therefore, Ii'le fourth-order term in line model is needed and the fourth-order model '3 best. 0 The fourth-order model explains an insignicant amount of varlatlon in total weekly cost compared to the thud-order model. Therefore, the fourth-order term in the model is needed and the fourth-order model best. d) Regardless ofyour results above, assume that the third-order model is best. Based on this estlmated total cost functlon, provide the estimated marginal total oostfunclzign [Enter all function ooelcienls to four decimal places). 0ij = e) Compute the following quantlties WITHOUT any intermediate roundlng. In other words, do NOT use the rounded version ofthe funco'on you reported above ll'I partd. Instead, use the one shared in you EXCEL worksheet. Enter your answers on two decimal places. How quickly the weekly total oost increasing when the level of produmon is 125 units per week? dollars per unit How quickly '3 the weekly total oost increasing when the level of produdlon is 400 mile per week? dollars per unit How quickly '3 the weekly total oost increasing when the level of produdlon is 675 mile per week? dollars per unlt
