Tableware Nambe Mills manufactures plates, bowls,and other tableware made from an alloy of several metals. Each item must go through several steps, includ-ing polishing. To better understand the production process and its impact on pricing, the company checkedthe polishing time (in minutes) and the retail price(in US$) of these items. The regression analysis is shownbelow. The scatterplot showed a linear pattern, andresiduals were deemed suitable for inference.Dependent variable is: PriceR-squared = 84.5%s = 20.50 with 59 - 2 = 57 degrees of freedomVariable Coefficient SE(Coeff)Intercept -2.89054 5.730Time 2.49244 0.1416a) How many different products were included in thisanalysis?b) What fraction of the variation in retail price isexplained by the polishing time?c) Create a 95% confidence interval for the slope of thisrelationship.d) Interpret your interval in this context.
Tableware Nambe Mills manufactures plates, bowls,and other tableware made from an alloy of several metals. Each item must go through several steps, includ-ing polishing. To better understand the production process and its impact on pricing, the company checkedthe polishing time (in minutes) and the retail price(in US$) of these items. The regression analysis is shownbelow. The scatterplot showed a linear pattern, andresiduals were deemed suitable for inference.Dependent variable is: PriceR-squared = 84.5%s = 20.50 with 59 - 2 = 57 degrees of freedomVariable Coefficient SE(Coeff)Intercept -2.89054 5.730Time 2.49244 0.1416a) How many different products were included in thisanalysis?b) What fraction of the variation in retail price isexplained by the polishing time?c) Create a 95% confidence interval for the slope of thisrelationship.d) Interpret your interval in this context.
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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Tableware Nambe Mills manufactures plates, bowls,
and other tableware made from an alloy of several
and other tableware made from an alloy of several
metals. Each item must go through several steps, includ-
ing polishing. To better understand the production
ing polishing. To better understand the production
process and its impact on pricing, the company checked
the polishing time (in minutes) and the retail price
(in US$) of these items. Theregression analysis is shown
below. Thescatterplot showed a linear pattern, and
residuals were deemed suitable for inference.
Dependent variable is: Price
R-squared = 84.5%
s = 20.50 with 59 - 2 = 57 degrees of freedom
Variable Coefficient SE(Coeff)
Intercept -2.89054 5.730
Time 2.49244 0.1416
a) How many different products were included in this
analysis?
b) What fraction of the variation in retail price is
explained by the polishing time?
c) Create a 95% confidence interval for the slope of this
relationship.
d) Interpret your interval in this context.
the polishing time (in minutes) and the retail price
(in US$) of these items. The
below. The
residuals were deemed suitable for inference.
Dependent variable is: Price
R-squared = 84.5%
s = 20.50 with 59 - 2 = 57 degrees of freedom
Variable Coefficient SE(Coeff)
Intercept -2.89054 5.730
Time 2.49244 0.1416
a) How many different products were included in this
analysis?
b) What fraction of the variation in retail price is
explained by the polishing time?
c) Create a 95% confidence interval for the slope of this
relationship.
d) Interpret your interval in this context.
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