An accountant wishes to predict direct fabor cost on the banks of the hatchise of product produced in a job shop Data fo

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An accountant wishes to predict direct fabor cost on the banks of the hatchise of product produced in a job shop Data for 12 production even In the table below Direct Labor Cost $1004 Batch Stre 71 5 663 381 35 138 12 861 83 14 493 46 S48 52 251 23 1024 100 435 41 772 75 A Find the last point estimates and on the computer output and report their values. Interpretand by Does the petition of be make practical sense B. Use the least a line to obtain da pointe ette of the mean direct labor cost for all batches of Send point prediction of the director confora individual batch of size C. Find the expened to the simple coeficiente determination, and the sample coefficient of correlation the D. Calculate the mean square error and standarder of this problem E Using the car and p-value approaches test - Overseas HBO by setting aequal to 01 DOS, 0.01 and 6.0. How much evidence is there that the slope fregression relationship is significant F. Using the critical value and p-value reproaches teste- HB byggato 01 0.05 0.01 and 0.001 What do you conclude but the significance of the
An accountant wishes to predict direct labor cost on the basis of the batch size of a product produced in a job shop. Data for 12 production runs are given in the table below. Direct Labor Cost ($100s) Batch Size 71 5 663 62 381 35 138 12 861 83 145 14 493 46 548 52 251 23
1024 100 435 41 772 75 A. Find the least squares point estimates bo and b1 on the computer output and report their values. Interpret bo and b1. Does the interpretation of bo make practical sense? B. Use the least squares line to obtain (1) a point estimate of the mean direct labor cost for all batches of size 60 and (2) a point prediction of the direct labor cost for an individual batch of size 60. C. Find the explained variation, the simple coefficient of determination, and the simple coefficient of correlation. Interpret the r2. D. Calculate the mean square error and standard error of this problem.
E. Using the critical value and p-value approaches, test Ho: B1 = 0 versus Ha: B1 O by setting a equal to 0.1, 0.05, 0.01, and 0.001. How much evidence is there that the slope (regression relationship) is significant? F. Using the critical value and p-value approaches, test Ho: Bo = 0 versus Ha: Bo # O by setting a equal to 0.1, 0.05, 0.01, and 0.001. What do you conclude about the significance of the y-intercept?