Question: Use attached data to estimate regression model between the total number of units produced and labor hours, after examining the appropriate plots: 1. State regression
Use attached data to estimate regression model between the total number of units produced and labor hours, after examining the appropriate plots:
1. State regression model
2. Interpret slope coefficient
3. Provide/Interpret 95% prediction interval for labour hours needed to produce 800th unit
I believe we are using logs here.
Data:
| Unit Produced | Labor Hours Required |
| 1 | 715 |
| 2 | 517 |
| 10 | 239 |
| 20 | 174 |
| 40 | 126 |
| 60 | 104 |
| 100 | 82 |
| 150 | 68 |
| 200 | 59 |
| 300 | 47 |
| 500 | 37 |
| 600 | 34 |
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