A production company is studying the relationship between the average cost/unit and number of units produced in a batch. A sample of 10 batches is selected and the data is given below.
a. Develop an estimated quadratic regression equation for the data. How much variation in the sample values of cost/unit does this regression model explain?
b. Is the overall regression relationship significant at a 0.05 level of significance? If so, then test the relationship between the independent variable and the dependent variable at a 0.05 level of significance.
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