# HW 1 - in the batch size b is the estimated mean labor...

This preview shows page 1. Sign up to view the full content.

BIT 2406 HW Answers Assignment 1 1. Chapter 11, Problem 11.21 a. b 0 = 7.81409 b 1 = 2.66522 Yes. The interpretation of b 0 does make practical sense since it indicates that 781,409 bottles of detergent would be demanded when the price difference with other products is zero. b. 8.081 c. about 26 cents 2. Chapter 11, Problem 11.22 b. b 1 is the estimated increase in mean labor cost (10.1463) for every 1 unit increase
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: in the batch size. b is the estimated mean labor cost (18.4880) when batch size = 0; no. c. y = 18.4880 + 10.1463x d. 627.266 3. Chapter 11, Problem 11.40 a. b = -.1602, b 1 = 1.2731 b. SSE = .1343, s 2 = .0336, s = .1833 c. s b1 = .1025 d. t = 12.4209 e. p-value = .00024, Reject at all alpha f. [.9885, 1.5577], 95% confident the mean preference would increase …...
View Full Document

## This note was uploaded on 06/27/2008 for the course BIT 2406 taught by Professor Llclark during the Summer '07 term at Virginia Tech.

Ask a homework question - tutors are online