onsider the following sample of production volumes and total cost data for a manufacturing operation. Production Volume (units) Total Cost ($) 400 3,900 450 4,900 550 5,500 600 5,900 700 6,400 750...


onsider the following sample of production volumes and total cost data for a manufacturing operation.
































Production Volume
(units)		Total Cost
($)
4003,900
4504,900
5505,500
6005,900
7006,400
7507,100

This data was used to develop an estimated regression equation,
ŷ = 970.67 + 8.08x,

relating production volume and cost for a particular manufacturing operation. Use
? = 0.05

to test whether the production volume is significantly related to the total cost. (Use theF test.)



Set up the ANOVA table. (Round yourp-value to three decimal places and all other values to two decimal places.)




































Source
of Variation		Sum
of Squares		Degrees
of Freedom		Mean
Square
F

p-value
Regression
Error
Total

Find the value of the test statistic. (Round your answer to two decimal places.)


Find thep-value. (Round your answer to three decimal places.)


p-value =

What is your conclusion?


RejectH
0. We conclude that the relationship between production volume and total cost is significant.Do not rejectH
0. We conclude that the relationship between production volume and total cost is significant.    RejectH
0. We cannot conclude that the relationship between production volume and total cost is significant.Do not rejectH
0. We cannot conclude that the relationship between production volume and total cost is signifi




Jun 10, 2022
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