Given below are five observations collected in a regression study on two variables, x (independent variable) and y (dependent variable).
a.Develop the least squares estimated regression equation.
b.At 95% confidence, perform a t test and determine whether or not the slope is significantly different from zero.
c.Perform an F test to determine whether or not the model is significant. Let = 0.05.
d.Compute the coefficient of determination.
e.
Compute the coefficient of correlation.
Definitions:
Predetermined Overhead Rate
A rate used to allocate manufacturing overhead to individual products or jobs, based on a predetermined formula, prior to actual production.
Customizing Department
A division within a company that modifies products to meet specific requirements or preferences of customers.
Direct Labor-Hours
A measure of the time directly spent by workers on producing a product or delivering a service, often used to allocate manufacturing overhead.
Overhead Applied
The allocation of overhead costs to produced goods based on a pre-determined rate or basis such as direct labor hours or machine hours.
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