1 answer

An engineering firm is interested in investigating whether the variability in the cost of small p...

Question:

help solve (please show excel formula for part b)An engineering firm is interested in investigating whether the variability in the cost of small projects (defined as projectsProject Billed Consulting Hours 3,940 3,121 2,988 3,996 4,907 5,140 4,012 4,274 3,144 4,123 2,525 3,266 3,879 3,168 3,938 3,6

An engineering firm is interested in investigating whether the variability in the cost of small projects (defined as projects under $10 million)can be accounted for, in part, by differences in the number of direct engineering consulting hours billed. A random sample of 20 small projects was selected from small projects performed over the past two years. The number of engineering consulting hours billed for each project, along with the project's cost was recorded. The results are available below. Complete parts a through d use a 95% confidence level and xp-3000 where needed. 囲Click the icon to view the data. a. Develop a simple linear regression model to explain the variation in total project cost based on the number of billed consulting hours The regression equation is y 742989+1030)x. Round to the nearest integer as needed.) b. Construct and interpret a 95% confidence interval estimate for the regression slope coefficent. The 95% confidence interval is D Round to two decimal places as needed.)
Project Billed Consulting Hours 3,940 3,121 2,988 3,996 4,907 5,140 4,012 4,274 3,144 4,123 2,525 3,266 3,879 3,168 3,938 3,685 4,206 4,325 2,859 3,735 Total Project Cost $4,324,021 $3,750,468 $3,578,636 $5,056,026 $5,527,686 $5,639,852 $5,257,83:3 $5,682,301 $4,135,094 $4,599,515 $3,343,056 $3,866,62:2 $4,867,556 $4,046,856 $5,068,739 $5,162,261 $5,148,926 $5,195,802 $3,352,44:3 $4,747,717 10 12 13 15 16 17 18 19 20

Answers

Sol:

in excel install analysis tool pak and then go to

Data>Data analysis>regression

You will get

Book1 Excel File Home Insert Page Layout Formulas Data Review View Tell me what you want to do Adabala Naveenkumarvenkat 2 Shselect Y as

Total project cost

x as billed consulting hours

Book1 Excel Home Insert Page Layout Formulas Data Review View Tell me what you want to do Adabala Naveenkumarvenkat 2 Share B

You will get

SUMMARY OUTPUT
Regression Statistics
Multiple R 0.910659
R Square 0.829299
Adjusted R Square 0.819816
Standard Error 324017.6
Observations 20
ANOVA
df SS MS F Significance F
Regression 1 9.18E+12 9.18E+12 87.44761 2.48E-08
Residual 18 1.89E+12 1.05E+11
Total 19 1.11E+13
Coefficients Standard Error t Stat P-value Lower 95% Upper 95%
Intercept 742989.2 420621.2 1.766409 0.094281 -140703 1626682
Billed consulting hours 1030.049 110.1499 9.351343 2.48E-08 798.6328 1261.465

From above ouptut

Regression eq is

y=742989+1030*x

which is the answer marked

The 95% confidence interval is

Lower 95% Upper 95%
798.6328 1261.465

ANSWER:

the 95% confidence interval is 798.63 ,1261.47

.

Similar Solved Questions

1 answer
Questions 14 and 15 refer to the following: Every day for a month, Amanda does the...
Questions 14 and 15 refer to the following: Every day for a month, Amanda does the crossword puzzle in the local newspaper. The times (in minutes) she takes to complete the puzzle are ordered and shown below: 15 20 23 27 28 30 31 34 35 35 35 36 37 37 37 39 39 40 41 41 41 41 42 45 50 52 55 58 62 67 T...
1 answer
2. A small conducting spherical shell with inner radius a and outer radius b is concentric...
2. A small conducting spherical shell with inner radius a and outer radius b is concentric with a larger conducting spherical shell with inner radius c and outer radius d. The inner shell has a total charge of -2, and the outer shell has a total charge of+4 q. Specify magnitude and direction. (a) Wh...
1 answer
By considering the summation: 2+22+23+…..+2n-1 A). What is the formula used for the summation? ________________________ B)....
By considering the summation: 2+22+23+…..+2n-1 A). What is the formula used for the summation? ________________________ B). Prove that your formula is correct for all integers n>=2 by mathematical induction....
1 answer
The following income statement applies to Kawai Company for the current year. Income Statement Sales revenue...
The following income statement applies to Kawai Company for the current year. Income Statement Sales revenue (200 units X $60) Variable cost (200 units * $36) Contribution margin Pixed cost Net income $12,000 (7,200) 4,800 (1.600) $ 3,200 Required a. Use the contribution margin approach to calculate...
1 answer
Pe | □Simplify Page Close Question 8 0 out of 1 points Order: Amoxicillin and clavulanate...
pe | □Simplify Page Close Question 8 0 out of 1 points Order: Amoxicillin and clavulanate potassium 300 mg p.о.q8h. Supply as shown in the label. How many tsp(s) will you administer per dose? , tsp(s) NDC 0093-2277-73 AMOXICILLIN AND CLAVULANATE POTASSIUM 8 for Oral Suspension USP 2200 m...
1 answer
R2 Ri M R3 3) calculate current, Voltage Power of each resistor. R,=52kar, R2=80kr and R3=120tor...
R2 Ri M R3 3) calculate current, Voltage Power of each resistor. R,=52kar, R2=80kr and R3=120tor ti 400...
1 answer
Excel AutoSave OD R File Home Insert E xcelTemplateAssignment Cho4 (5) Formulas Data Review View Search...
Excel AutoSave OD R File Home Insert E xcelTemplateAssignment Cho4 (5) Formulas Data Review View Search DYMO Label QuickBooks Page Layout Help 12 A1 . 1 X f PA-1A Assign overhead using traditional costing and ABC, compute unit costs, classify activities as value or non-value-ad 4. A B C D E F HI L 1...
1 answer
For the data set shown​ below, complete parts ​(a) through ​(d) below. x   y 20   98...
For the data set shown​ below, complete parts ​(a) through ​(d) below. x   y 20   98 30   95 40   89 50   85 60   72 (a) Use technology to find the estimates of Β0 and Β1 . Β0 ≈ b0 =__?__ ​(Round...
1 answer
C) Axial-flow compressor Answer 3) Specifie speed (0.) for the compressor compressor should selected? application is 0.9. Which of the following type of 52 th Reciprocating compressor B) none of t...
C) Axial-flow compressor Answer 3) Specifie speed (0.) for the compressor compressor should selected? application is 0.9. Which of the following type of 52 th Reciprocating compressor B) none of these A) Centrifug al compressor 1,) compressor D) Centrifugal fan 6) &7) The compressor is tested at...
1 answer
MATCH You are asked to make the closing entry given this adjusted trial balance. Match the...
MATCH You are asked to make the closing entry given this adjusted trial balance. Match the account name with the proper activity. Koky Day Carparition Adjusted Trial Boboce 1281/19 DR CR 150,000 75,000 3,000 10.000 55,000 25.000 Account Name Cach Accounts Receivable Akware for Doubeld Aosts Prepaid ...
1 answer
4. Given the calibration data in the table below, calculate the equilibrium concentration of (FeSCN2+1 if...
4. Given the calibration data in the table below, calculate the equilibrium concentration of (FeSCN2+1 if the absorbance is 0.460. You may have to plot a graph. [FeSCN2+] Absorbance [FeSCN2+] Absorbance 0.250 x 10-4 0.120 1.00 x 10-4 0.481 0.500 x 10-4 0.240 1.60 x 10-4 0.770 Part A Determine the va...
1 answer
Sunspot Beverages, Ltd., of Fiji uses the weighted-average method in its process costing system. It makes...
Sunspot Beverages, Ltd., of Fiji uses the weighted-average method in its process costing system. It makes blended tropical fruit drinks in two stages. Fruit juices are extracted from fresh fruits and then blended in the Blending Department. The blended juices are then bottled and packed for shipping...
1 answer
For each of the following, compute the present value: (Do not round intermediate calculations and round...
For each of the following, compute the present value: (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Interest Rate Present Value Years Future Value 18,828 12 43,017 13 15 805,382 662,816 18 14...
1 answer
Concrete beam with a rectangular cross section has Je 2 60,000 psi, and sustains MDL 36 kip-ft an...
concrete beam with a rectangular cross section has Je 2 60,000 psi, and sustains MDL 36 kip-ft and MLL -65 kip beam dimensions and reinforcement for a balanced section. 4. A f'4000 psi and f,- SI -ft. Select the concrete beam with a rectangular cross section has Je 2 60,000 psi, and sustains MD...
1 answer
Watch Ao no Exor. wwwtybe... w Petty - Wikipedie Oray Eph . I w beyond the...
Watch Ao no Exor. wwwtybe... w Petty - Wikipedie Oray Eph . I w beyond the bor + 0/1 points Previous Answers WACalcTutBank1 6.7.003a.Tut. My Notes Ask Your Teacher the top of the tank, as shown in the A rectangular tank is full of water, which has a density of 1000 kg/ ml. Find the work in joules) n...
1 answer
Birds Unlimited has an account payable period of 60 days the firm has expected sales of...
Birds Unlimited has an account payable period of 60 days the firm has expected sales of 17,800, 22,100 ,24,400 and 28,800 repectviley by quarter for the next calender year. the purchaser for a quarter are equal to 65 percent of the following quarters sales. what is the amount of the projected cash d...
1 answer
Please help!!!! JAVA I done the project expect one part but I still give you all...
please help!!!! JAVA I done the project expect one part but I still give you all the detail that you needed... and I will post my code please help me fix the CreateGrid() part in main and make GUI works    List Type Data Structures Overview : You will be implementing my version of a linke...
1 answer
Score: 0 of 2 pts < 11 of 20 (20 complete) HW Score: 92%, 23 of...
Score: 0 of 2 pts < 11 of 20 (20 complete) HW Score: 92%, 23 of 25 pts X 7.3.35 Question Help The random sample shown below was selected from a normal distribution 7. 7. 8,4,5,5 Complete parts a and b. a. Construct a 95% confidence interval for the population mean . (4.37.7.63 ) (Round to two dec...