A production company is studying the relationship between the average cost/unit and number of units produced in a batch. A sample of 10 batches is selected and the data is given below.
$$\begin{array} { | c | c | }
\hline \text { No. of units produced } & \text { Cost/unit } \
\hline 20 & 37.7158 \
\hline 35 & 35.0158 \
\hline 50 & 30.8158 \
\hline 65 & 25.8158 \
\hline 80 & 20.0364 \
\hline 95 & 16.9064 \
\hline 110 & 16.3766 \
\hline 120 & 13.8564 \
\hline 135 & 13.9696 \
\hline 150 & 13.847 \
\hline
\end{array}$$

a. Develop an estimated quadratic regression equation for the data. How much variation in the sample values of cost/unit does this regression model explain?
b. Is the overall regression relationship significant at a 0.05 level of significance? If so, then test the relationship between the independent variable and the dependent variable at a 0.05 level of significance.

Question

A production company is studying the relationship between the average cost/unit and number of units produced in a batch. A sample of 10 batches is selected and the data is given below.
​ $$\begin{array} { | c | c | } 
\hline \text { No. of units produced } & \text { Cost/unit } \
\hline 20 & 37.7158 \
\hline 35 & 35.0158 \
\hline 50 & 30.8158 \
\hline 65 & 25.8158 \
\hline 80 & 20.0364 \
\hline 95 & 16.9064 \
\hline 110 & 16.3766 \
\hline 120 & 13.8564 \
\hline 135 & 13.9696 \
\hline 150 & 13.847 \
\hline
\end{array}$$ ​
​
​ 
a. Develop an estimated quadratic regression equation for the data. How much variation in the sample values of cost/unit does this regression model explain?
b. Is the overall regression relationship significant at a 0.05 level of significance? If so, then test the relationship between the independent variable and the dependent variable at a 0.05 level of significance.

Quizplus · Accepted Answer

The Answer of A production company is studying the relationship between the average cost/unit and number of units produced in a batch. A sample of 10 batches is selected and the data is given below.
​ $$\begin{array} { | c | c | } 
\hline \text { No. of units produced } & \text { Cost/unit } \
\hline 20 & 37.7158 \
\hline 35 & 35.0158 \
\hline 50 & 30.8158 \
\hline 65 & 25.8158 \
\hline 80 & 20.0364 \
\hline 95 & 16.9064 \
\hline 110 & 16.3766 \
\hline 120 & 13.8564 \
\hline 135 & 13.9696 \
\hline 150 & 13.847 \
\hline
\end{array}$$ ​
​
​ 
a. Develop an estimated quadratic regression equation for the data. How much variation in the sample values of cost/unit does this regression model explain?
b. Is the overall regression relationship significant at a 0.05 level of significance? If so, then test the relationship between the independent variable and the dependent variable at a 0.05 level of significance.

A Production Company Is Studying the Relationship Between the Average