Consider the following sample of production volumes and total cost data for a manufacturing operation.Production VolumeTotal Cost(units)($)4004,1004505,1005505,4006006,0007006,5007507,000This data was used to develop an estimated regression equation, ŷ = 1,405.33 + 7.44x, relating production volume and cost for aparticular manufacturing operation. Use a = 0.05 to test whether the production volume is significantly related to the total cost. (UF test.)%3DState the null and alternative hypotheses.O Ho: B1 + 0H3: B1 = 0O Ho: Po + 0H3: Po = 0O Ho: B1 = 0H3: B1 # 0O Ho: B1 2 0Ha: B1 < 0%3DO Ho: Po = 0H: Bo # 0Set up the ANOVA table. (Round your p-value to three decim olaces and all other values to two decimal places.)Degreesof FreedomSourceSumMeanFp-valueof Variationof SquaresSquareRegression5.18151.8986.870.0007Error23.89459.73Total75.785Find the value of the test statistic. (Round your answer to two decimal places.)9.32Find the p-value. (Round your answer to three decimal places.)p-value = 0.0007What is your conclusion?O Do not reject Ho. We 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 Do not reject Ho. We cannot conclude that the relationship between production volume and total cost is significant.Reject Ho. We cannot conclude that the relationship between production volume and total cost is significant.

The null and alternative hypothesis is given below:

Answered: This data was used to develop an…

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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why the correct answer is letter b?
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