Given the following information, use Excels Regression tool and scatter plot tool to: (a) What...
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Accounting
Given the following information, use Excels Regression tool and scatter plot tool to:
(a) What is the 95% prediction interval for the true overhead when the number of units produced is 1,000?
(b) What is the residual for the fifth observation (round to two decimal places)? Month Units produced Manuf. Overhead 1 500 131,000 2 600 135,000 3 400 104,000 4 300 76,000 5 800 186,000 6 900 190,100 7 600 150,000 8 400 98,000 9 300 78,000 10 200 60,000 11 400 108,000 12 600 152,000 13 700 158,000 14 500 134,380 15 300 86,000 16 200 60,000
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