Regression Analysis
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Question #1: The following data have been collected by an accountant who is performing an audit of paper products at a larger office supply company. The dependent variable, y, is the time taken (in minutes) by the accountant to count the units. The independent variable, x, is the number of units on the computer inventory record.
(see data in attached file)
Y X
23.1 24
100.5 120
242.9 228
56.4 56
178.7 190
10.5 13
94.2 85
200.4 190
44.2 32
128.7 120
180.5 230
a) develop a scatter plot for these data.
b) Test to determine whether the accountant takes an average of one minute for each unit counted. Use a significant level of 0.10. conduct this hypothesis test using the p-value approach.
c) Develop a 90% confidence interval estimate for the true regression slope and interpret this interval estimate. Does the confidence interval you generated contain the hypothesized value in the null hypothesis of part b?
d) What is the relationship between the techniques used in parts b and c?
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Solution Summary
The solution does a regression analysis: dependent variable, y, is the time taken (in minutes) by the accountant to count the units and the independent variable, x, is the number of units on the computer inventory record. A scatter plot is developed and the 90% confidence interval estimate for the true regression slope is calculated.
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