Where data on production volume and cost were used to develop an estimated regression equation relating production volume and cost for a particular manufacturing operation. Useα_ .05 to test whether the production volume is significantly related to the total cost. Show the ANOVA table. What is your conclusion?
Production Volume (units)
Total Cost ($)
400
4000
450
5000
550
5400
600
5900
700
6400
750
7000
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