HW04b_sol - Homework 6 Solutions Problem 6-12 See the Excel...

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Homework 6 Solutions Page 1 of 4 Problem 6-12 See the Excel file (HW06_sol_X.xls) for backup calculations. A random sample of 20 observations was obtained by assigning a random number to each of the 140 samples (using Excel’s RAND()) and selecting the 20 samples with the lowest random number. See HW06_sol_X.xls /6-12_Additional for the sampling method and the full population results. Part A Direct Labor Cost vs. Copies Produced 0.0 1.0 2.0 3.0 4.0 0 100 200 300 400 500 Copies Produced Direct Labor Cost Part B The sample correlation coefficient is 0.867 Part C The fitted regression line is Direct Labor Cost = 0.83112 + 0.00500 * Copies Produced Part D See graph for fitted line (blue). Part E The standard error of estimate is 0.41413 Part F The coefficient of determination is 0.752 This implies that 75.2% of the total variation in y can be explained by the linear relationship between x and y. Part G To test for significance of the slope: H 0 : β = 0 H 1 : β 0 41413 . 0 x y s 00068 . 0
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HW04b_sol - Homework 6 Solutions Problem 6-12 See the Excel...

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