Q2. There is a perception that the wastage is depends upon the level of production. You are required to verify this perc

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Q2 There Is A Perception That The Wastage Is Depends Upon The Level Of Production You Are Required To Verify This Perc 1 (65.65 KiB) Viewed 145 times

Q2. There is a perception that the wastage is depends upon the level of production. You are required to verify this perception, by performing the regression analysis in the last 12-month data given below. After analysis, answers the given question: 1. Write down the value of coefficient of correlation and interpret it. 2. Write down the value of coefficient of determination and interpret it. 3. Write down the regression equation for estimating the wastage in the next month 4. Comments about the validity of regression model (equation) 5. How much will be the estimated wastage if the production level is 5,000,000. Production 4,341,970 3,911,307 4,092,487 3,983,795 3,719,102 4,174,050 3,904,921 3,819,264 3,602,300 4,152,615 3,917,154 3,833,967 Wastage 39,048 36,076 36,557 40,748 41,419 38,873 40,764 43,368 40,153 41,479 37,333 37,927 Question #2 a Coefficient of Correlation Comments b Coefficient of Correlation Comments с d Regression Equation Comments about validity of Model Estimated value of Wastage e