Indirect material cost: y
explained by units produced: x
Linear regression. Cost estimation equation: y=mx+b
Constant: b=$15,640
Standard error of y estimate=$3,600
r^2=0.7704
Number of observations: n=22
x coeffient: m=11.25
Standard error of x coefficient=2.19
m=11.25, b=15,640 → y=11.25x+15,640
Answer: The cost estimation equation is y=11.25x+15,640
There are 3260 quarts in 815 US gallons
Not completely sure but i think it is 16
If the p-value is smaller than the level of significance, then it indicates strong evidence against the null hypothesis, as there is less than a 5% probability the null hypothesis is correct.
In this question,
A p-value is a probability, calculated after running a statistical test on data and it lies between 0 and 1. The p-value only tells you how likely the data you have observed is occurred under the null hypothesis.
One of the most commonly used p-value is 0.05. If the value is greater than 0.05, the null hypothesis is considered to be true. If the calculated p-value turns out to be less than 0.05, the null hypothesis is considered to be false, or nullified (hence the name null hypothesis).
A small p-value (< 0.05 in general) means that the observed results are unusual, assuming that they were due to chance only. Now, the smaller the p-value, the stronger the evidence that should reject the null hypothesis.
Hence we can conclude that if the p-value is smaller than the level of significance, then it indicates strong evidence against the null hypothesis, as there is less than a 5% probability the null hypothesis is correct.
Learn more about p-value here
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The answer is true. 1/9 = 0.111111......
