Completely work the problems in Excel, conclusions and answers may be typed in Excel or Word. Then submit the assignment via Canvas to upload the file, so I can grade an electronic version of the homework.

Chapter 14

#1 Scott Bell Builders would like to predict the total number of labor hours spent framing a house based on the square footage of the house. The following data has been compiled on ten houses recently built.

Square Footage (100s)	Framing Labor Hours	Square Footage (100s)	Framing Labor Hours
20	195	27	225
21	170	29	240
23	220	31	225
23	200	32	275
26	230	35	260

a) Least-squares estimated regression equation that related framing labor hours to house square footage.

i. Develop a scatter diagram with Framing Labor Hours on the vertical axis and Square Footage (100s) on the horizontal axis.

ii. What does the scatter diagram developed in part (i) indicate about the relationship between the two variables?

iii. Develop the estimated regression equation that could be used to predict the Framing Labor Hours given the Square Footage.

iv. Test for a significant relationship at the 0.05 level of significance.

v. Did the estimated regression equation provide a good fit? Explain.

vi. Use the regression equation to predict Framing Labor Hours when the house size is 3350 square feet

b) Use residual analysis to determine whether any outliers are present. Briefly summarize your findings and conclusions.