The following partial Excel add in MegaStat regression output for the
The following partial Excel add-in (MegaStat) regression output for the direct labor cost data relates to predicting direct labor cost when the batch size is 60.
a. Report (as shown on the computer output) a point estimate of and a 95 percent confidence interval for the mean direct labor cost of all batches of size 60.
b. Report (as shown on the computer output) a point prediction of and a 95 percent prediction interval for the actual direct labor cost of an individual batch of size 60.
c. For this case: n = 12, b0 = 18.4875, b1 = 10.1463, and s = 8.6415. Use this information and the distance value (called Leverage) on the computer output to compute 99 percent confidence and prediction intervals for the mean and individual labor costs when x = 60.
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