Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. basic math
  3. the apex corporation produces corrugated paper. it

The Apex corporation produces corrugated paper. It has collected monthly data from January 2001 through March...

90.2K

Verified Solution

Question

Basic Math

The Apex corporation produces corrugated paper. It has collectedmonthly data from January 2001 through March 2003 on the followingtwo variables:

y= total manufacturing cost per month (In thousands of dollars)(COST)

x= total machine hours used per month (Machine)

The data are shown below.

yx

1102 218
1008 199
1227 249
1395 277
1710 363
1881 399
1924 411
1246 248
1255 259
1314 266
1557 334
1887 401
1204 238
1211 246
1287 259
1451 286
1828 389
1903 404
1997 430
1363 271
1421 286
1543 317
1774 376
1929 415
1317 260
1302 255
1388 281

Answer the following question

Fill in the blanks for the following statement: “I am 95%confident that the average manufacturing cost at the Apexcorporation for all months with 350 total machine hours is between____ and ____.”

please show me steps

Answer & Explanation Solved by verified expert
3.9 Ratings (796 Votes)
This problem can be solved using regressionFollowing are the steps1calculate regression coefficient using mentioned formula2calculate yhat using regression formula3calculate root mean square errorsyx4calculate standard error for prediction5calculate t critical6calculate lower and upper value of intervalStep 1y abxTo calculate a and    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

The earliest fossil form, in the phylogeny of horse, is (a) Eqiitts (b) Mesohippus (c) Eohippus (d) Merychippus.

Biology
Q

What are three concepts that were most surprising to you of the male anatomy and female...

Psychology
Q

Suppose that firms A,B,C and D are Bertrand duopolists in the salt industry. The market demand...

Economics
Q

Question 4 1 point 4 Listen In the Hardy Weinberg equation the 2pq component correspond...

Biology
Q

Neurons that carry touch sensations from your skin are typically which type multipolar bipolar

Biology
Q

u= <- 4,6 > and v= < 2,- 3 >a. Sketch u, v, and u...

Basic Math
Q

Find the magnitude and direction angle for the following vector Give the direction angle as...

Calculus
Q

The price that a farmer receives for radishes is $62.00 percwt. (100 pounds). The price...

Algebra
Q

Fill in lines A, B, C, D, F, H, and J (the lines are highlighted)...

Accounting
Q

Return Samtech Manufacturing purchased land and building for $4 million. In addition to the purchase...

Accounting
Q

What were Nike's key sources of competitive advantage relative to Adidas that allowed it to...

Accounting
Q

A) Companies promoting continuous improvement strive to achieve practical standards rather than ideal standards. true...

Accounting