Question

A production plant cost-control engineer is responsible for cost reduction. One of the costly items in...

A production plant cost-control engineer is responsible for cost reduction. One of the costly items in his plant is the amount of water used by the production facilities each month. He decided to investigate water usage by collecting seventeen observations on his plant's water usage and other variables.

Variable               Description

Temperature     Average monthly temperate (F)

Production          Amount of production (M pounds)

Days                      Number of plant operating days in the month

Persons                Number of persons on the monthly plant payroll

Water                   Monthly water usage (gallons)

Temperature

Production

Days

Persons

Water

58.8

7107

21

129

3067

65.2

6373

22

141

2828

70.9

6796

22

153

2891

77.4

9208

20

166

2994

79.3

14792

25

193

3082

81.0

14564

23

189

3898

71.9

11964

20

175

3502

63.9

13526

23

186

3060

54.5

12656

20

190

3211

39.5

14119

20

187

3286

44.5

16691

22

195

3542

43.6

14571

19

206

3125

56.0

13619

22

198

3022

64.7

14575

22

192

2922

73.0

14556

21

191

3950

78.9

18573

21

200

4488

79.4

15618

22

200

3295

i. Create the Scatter Plot graph between “water” and “production

ii. Use the appropriate routine of Data Analysis in MS Excel or any other statistical software in order to estimate the correlation matrix of all variables

iii. Compute 95% confidence interval for the values of the correlation coefficient between and determine which ones are statistically significant”

Homework Answers

Answer #1

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