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Submittwofilesasusual,aWordfilethathasalltheanswersforthequestionsandanExcel

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Submittwofilesasusual,aWordfilethathasalltheanswersforthequestionsandanExcel;filethathasonlythedataandregressionoutputs.FortheExcelfile,makesureyougivethenamefor;eachspreadsheetsuchasdata,straightline,quadraticandcubic(4spreadsheetswiththenames).Do;notforgettoputthegroupnumberandthenamesoftheparticipantsontheprojectintheWord;document.;ThegroupprojectbelowisQuestion9onpage287,chapter7.Ideletedcertainquestions.Makesure;youreadpp.258260withthespecialattentiontoFigure7.4(thethreedifferentspecificationsofthe;totalcostfunction)andpp.295305fromyourtextbook.AndDONOTforgettousemylecturenote;calledEstimatingthecostfunction.;Youhavebeenpresentedwiththefollowingcostdataandaskedtofita;statisticalcostfunction;Quantity TotalCost;10;104.0;20;107.0;30;109.0;40;111.5;50;114.5;60;118.0;70;123.0;80;128.5;90;137.0;100;150.0;1. Fitthreepossiblestatisticalcostfunctionstothedata.Usestraightline,quadratic,andcubic;formulas.;2. Discussthestatisticalresultsyouobtainedinquestion1.IncludeinyourdiscussionR2,the;coefficients,andthestatisticalsignificanceofthecoefficients.Forthestatisticalsignificance;test,usetheptestratherthanthettest.Ifyoudecidetousethettest,youfirsthavetofind;thedegreesoffreedomandthenfindtheappropriatecriticaltvalueinTableA.4onpage583.;3. Ifthedatarepresent10monthsofproductionforoneplantofaspecificcompany,wouldyou;considerthistobeashortrunanalysis?;4. Howwouldyouranswertoquestion3changeifyouweretoldthatthedatarepresent10;differentplantsduringaparticularmonthoftheyear?

 

Paper#18244 | Written in 18-Jul-2015

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