A company produces electric motors for use in home appliances. One of the company’s production managers is interested in examining the relationship between inspection costs in a month (X) and the number of motors produced that month that were returned by dissatisfied customers (Y). He has collected the data in the file P10_03.xlsx for the past 36 months.
Estimate a simple linear regression equation using the given data and interpret it for this production manager. Also, interpret se and R2 for these data.