You may need to use the appropriate technology to answer this question Consider the following sample of production volumes and total cost data for a manufacturing operation Production Volume Total Cost (units) ($) 400 4,100 450 5,100 550 5,500 600 5,800 700 6,500 750 7,000 This data was used to develop an estimated regression equation, y 1,434 67 7 36x, relating production volume and cost for a particular manufacturing operation Use a 0 05 to test whether the production volume is significantly related to the total cost (Use the F test ) State the null and alternative hypotheses O Ho B 0 Ha B 0 Ho Po 0 Ha Bo 0 Ho B 0 Ha B 0 O Ho Bo 0 Ha Bo 0 O Ho P 0 Ha B 0 Set up the ANOVA table (Round your p value to three decimal places and all other values to two decimal places ) Ha Bo 0 O Ho B 0 Ha B 0 O Ho Bo 0 Ha Bo 0 O Ho B 0 Ha B 0 Set up the ANOVA table (Round your p value to three decimal places and all other values to two decimal places ) Sum Source of Variation Degrees of Freedom Mean Square F p value of Squares Regression Error Total Find the value of the test statistic (Round your answer to two decimal places ) Find the p value (Round your answer to three decimal places ) p value What is your conclusion O Do not reject Ho We cannot conclude that the relationship between production volume and total cost is significant O Reject Ho We conclude that the relationship between production volume and total cost is significant O Do not reject Ho We conclude that the relationship between production volume and total cost is significant O Reject Ho We cannot conclude that the relationship between production volume and total cost is significant

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Question: You may need to use the appropriate technology to answer this question. Consider the following sample of production volumes and total cost data for

You may need to use the appropriate technology to answer this question. Consider the following sample of production volumes and total cost data for

You may need to use the appropriate technology to answer this question. Consider the following sample of production volumes and total cost data for a manufacturing operation. Production Volume Total Cost (units) ($) 400 4,100 450 5,100 550 5,500 600 5,800 700 6,500 750 7,000 This data was used to develop an estimated regression equation, y = 1,434.67 + 7.36x, relating production volume and cost for a particular manufacturing operation. Use a = 0.05 to test whether the production volume is significantly related to the total cost. (Use the F test.) State the null and alternative hypotheses. O Ho: B 0 Ha: B

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