Question

From Table 11.3.16, consider the daily production and the number of workers assigned for each of a series of days.
a. Find the regression equation for predicting production from the number of workers.
b. What is the estimated production amount attributable to a single additional worker?
c. Draw a scatterplot of the data set with the regression line.
d. Find the expected production and the residual value for the first data pair. Interpret both of these values in business terms.
e. Find the standard error of the slope coefficient. What does this number indicate?
f. Find the 95% confidence interval for the expected marginal value of an additional worker. (This is economics language for the slope.)
g. Test at the 5% level to see if there is a significant relationship between production level and the number of workers.


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  • CreatedNovember 11, 2015
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