Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
9th Edition
ISBN: 9781319013387
Author: David S. Moore, George P. McCabe, Bruce A. Craig
Publisher: W. H. Freeman
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Chapter 13, Problem 40E

(a)

To determine

To find: The sample size, mean, and the standard deviation for each group.

(b)

To determine

To graph: The means.

(c)

To determine

To test: The ANOVA.

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The managing director of a consulting group has the accompanying monthly data on total overhead costs and professional labor hours to bill to clients. Complete parts a through c.         Question content area bottom Part 1 a. Develop a simple linear regression model between billable hours and overhead costs.   Overhead Costsequals=212495.2212495.2plus+left parenthesis 42.4857 right parenthesis42.485742.4857times×Billable Hours ​(Round the constant to one decimal place as needed. Round the coefficient to four decimal places as needed. Do not include the​ $ symbol in your​ answers.) Part 2 b. Interpret the coefficients of your regression model.​ Specifically, what does the fixed component of the model mean to the consulting​ firm?   Interpret the fixed​ term, b 0b0​, if appropriate. Choose the correct answer below.     A. The value of b 0b0 is the predicted billable hours for an overhead cost of 0 dollars.   B. It is not appropriate to interpret b 0b0​, because its value…
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