Consider the computer output in Table 12.5.12, part of an analysis to explain the final cost of
Question:
a. What percentage of the variation in cost is explained by the information available at the time the bid is placed?
b. Approximately how closely can we predict cost if we know the other variables?
c. Find the predicted cost of a project involving $9,000 in labor and $20,000 in materials.
d. Is the F test significant? What does this tell you?
e. Do materials have a significant impact on cost?
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