Just for d and e!!!! Thanks!!!! 26. Apex Corporation. The The Corporation pro- p
ID: 3257539 • Letter: J
Question
Just for d and e!!!! Thanks!!!! 26. Apex Corporation. The The Corporation pro- pro- duces It collected monthly data from January 2001 through March 2003 on the following two variables: y, total manufacturing cost per month (in thousands of dollars) (COST) x, total machine hours used per month (MA CHINE) The data are shown in Table 3.7 and are available in a file named APEX3 on the CD. Perform any analy- ses necessary to answer the following questions: a. What is the estimated regression equation relating y to x?Explanation / Answer
Answer:
d).
point estimate: 1669.44
95% CI = (1659.40, 1679.49)
95% confident that the true predicted value will fall in the interval.
It is reliable since x=350 in the range of x values.
e).
point estimate: 2505.20
95% CI = (2473.92, 2536.49)
Since x=550 is outside the range of x values, extrapolation of the relation outside the range of x values is not reliable.
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