Consider the following sample of production volumes and total cost data for a manufacturing operation.Total Cost($)Production Volume(units)4003,9004504,9005505,4006005,9007006,4007507,000This data was used to develop an estimated regression equation, ý = 1,029.33 + 7.92x, 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 Ftest.)State the null and alternative hypotheses.O Ho: B1 * 0H:ßq = 0O Họ: Bo = 0H3: Bo 0O Ho: B1 = 0H: B, = 0O Ho: B1 2 0Hg:Bq < 0O Ho: Bo *0Hg: Bo = 0 Set up the ANOVA table. (Round your p-value to three decimal places and all other values to two decimal places.)Sourceof VariationSumDegreesof FreedomMeanFp-valueof SquaresSquareRegressionErrorTotalFind the value of the test statistic. (Round your answer to two decimal places.)Find the p-value. (Round your answer to three decimal places.)p-value =What is your conclusion?O Do not reject H. We cannot conclude that the relationship between production volume and total cost is significant.O Reject Ho. We conclude that the relationship between production volume and total cost is significant.O Reject H. We cannot conclude that the relationship between production volume and total cost is significant.O Do not reject Ho. We conclude that the relationship between production volume and total cost is significant.

The null hypothesis in simple linear regression is that the slope is zero and the alternate…

consider the following sample of production volumes and total cost data for manuracturing operation. Production Volume Total Cost (units) ($) 400 3,900 450 4,900 550 5,400 600 5,900 700 6,400 750 7,000 This data was used to develop an estimated regression equation, ý = 1,029.33 + 7.92x, 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 est.) State the null and alternative hypotheses. O Ha: B-0 H: B = 0 O Hoi Bo = 0 O Hoi Bq = 0 O Ho: Bq z0 Hi Bq < 0 O Hoi Bo =0 H: Bo = 0

consider the following sample of production volumes and total cost data for manuracturing operation. Production Volume Total Cost (units) ($) 400 3,900 450 4,900 550 5,400 600 5,900 700 6,400 750 7,000 This data was used to develop an estimated regression equation, ý = 1,029.33 + 7.92x, 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 est.) State the null and alternative hypotheses. O Ha: B-0 H: B = 0 O Hoi Bo = 0 O Hoi Bq = 0 O Ho: Bq z0 Hi Bq < 0 O Hoi Bo =0 H: Bo = 0

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Concept explainers

Correlation

Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.

Linear Correlation

A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.

Regression Analysis

Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.

Question

Consider the following sample of production volumes and total cost data for a manufacturing operation.
Total Cost
($)
Production Volume
(units)
400
3,900
450
4,900
550
5,400
600
5,900
700
6,400
750
7,000
This data was used to develop an estimated regression equation, ý = 1,029.33 + 7.92x, 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
H:ßq = 0
O Họ: Bo = 0
H3: Bo 0
O Ho: B1 = 0
H: B, = 0
O Ho: B1 2 0
Hg:Bq < 0
O Ho: Bo *0
Hg: Bo = 0

Set up the ANOVA table. (Round your p-value to three decimal places and all other values to two decimal places.)
Source
of Variation
Sum
Degrees
of Freedom
Mean
F
p-value
of Squares
Square
Regression
Error
Total
Find the value of the test statistic. (Round your answer to two decimal places.)
Find the p-value. (Round your answer to three decimal places.)
p-value =
What is your conclusion?
O Do not reject H. We cannot conclude that the relationship between production volume and total cost is significant.
O Reject Ho. We conclude that the relationship between production volume and total cost is significant.
O Reject H. We cannot conclude that the relationship between production volume and total cost is significant.
O Do not reject Ho. We conclude that the relationship between production volume and total cost is significant.

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