Using the data of Problem 15.6 on page 581, stored in Cost Estimation, perform a square-root transformation of the independent variable (unit production). Using total cost as the dependent variable and the transformed independent variable, perform a regression analysis, a. State the regression equation.
b. Predict the total cost when production is 145 units.
c. Perform a residual analysis of the results and determine whether the regression model is valid.
d. At the 0.05 level of significance, is there a significant relationship between total cost and the square root of unit production?
e. Interpret the meaning of the coefficient of determination, r2, in this problem.
f. Compute the adjusted r2.
g. Compare your results with those of Problems 15.6 and 15.12. Which model is best? Why?
This question was answered on: Jul 11, 2017
Need a similar solution fast, written anew from scratch? Place your own custom order
We have top-notch tutors who can help you with your essay at a reasonable cost and then you can simply use that essay as a template to build your own arguments. This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student. New solution orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.