q3

You may need to use the appropriate technology to answer this question. Consider the following sample of production volumes and total cost data for a manufacturing operation. Production Volume Total Cost (units) ($) 400 4,000 450 4,900 550 5,300 600 5,900 700 6,500 750 7,100 This data was used to develop an estimated regression equation, y = 970.67 + 8.08x, relating production volume and cost for a particular manufacturing operation. Use a = 0.05 to test whether the production volume is significantly related to the total cost. (Use the F test.) State the null and alternative hypotheses. O Ho: B1 = 0 Ha: B 1 = 0 O Ho: Po = 0 Ha : BO F O OH: B 1 = 0 Ha : B 1 = 0 O Ho: B1 20 Ha : P 1