A company has built a regression model to predict the number of labor hours (Yi) required to process a batch of parts (Xi). It has developed the following Excel spreadsheet of the results. 

A. True or False? The average labor hours for a batch of parts increases by 2 hours for each additional part. A batch of 0 parts will require 5 hours which can be viewed as the setup time for the machine.

B. Predict the mean number of labor hours for a batch of 30 parts.

C. Provide a rough 95% confidence interval on the number of labor hours for a batch of 30 parts.

D. True or False? The regression model is significant at five percent level of significance because Significance F (0.005) is less than 0.05.

A B D F 1 Regression Statistics 2 Multiple R 0.99 3 R Square 0.95 4 Adjusted R Square 5 Standard Error 6 Observations 0.94 0.5 100 7 8 ANOVA 6. df SS MS F Significance F 10 Regression 1 181.5971 181.5971 1341.55 0.005 11 Residual 8 1.0829 0.1354 12 Total 182.68 13 14 Standard Lower Upper 15 Coefficier Error t Stat P-value 95% 95% 16 Intercept 5 0.2513 19.2571 0.01 4. 4974 5.5026 17 XVariable 1 0.0405 36.6272 0.01 2.919 3.081