There is a perception that the wastage is depends upon the level of production. You are required to verify this perception, by performing the regression analysis in the last 12-month data given below....

There is a perception that the wastage is depends upon the level of production. You are required to verify this perception, by performing the regression analysis in the last 12-month data given below.

After analysis, answers the given question:

1. Write down the value of coefficient of correlation and interpret it.


2. Write down the value of coefficient of determination and interpret it.


3. Write down the regression equation for estimating the wastage in the next month


4. Comments about the validity of regression model (equation)


5. How much will be the estimated wastage if the production level is 5,000,000.