The following table represents data involving direct labour costs (in Rands) and the batch size (in units) produced by a small manufacturing concern that specialises in a single product.
BATCH SIZE (units) LABOUR COSTS (Rands)
1. Determine Pearson's correlation coefficient and comment on the value obtained.
2. Obtain a regression equation representing the above data.
3. Estimate the production batch size for a direct labour cost of R350-00.© BrainMass Inc. brainmass.com September 22, 2018, 7:46 am ad1c9bdddf - https://brainmass.com/statistics/correlation-and-regression-analysis/pearsons-correlation-coefficient-regression-equation-154545
This solution determines Pearson's correlation coefficient and regression equation from an ANOVA analysis. It also uses the regression equation to estimate the product batch size for a specific direct labour cost.