Good forecasting and control of preconstruction activities leads to more efficient use oftime and resources in highway construction projects. Data on construction costs (in $1000s)and person-hours of labor required on several projects are presented in the following tableand are taken from the article "Forecasting Engineering Manpower Requirements forHighway Preconstruction Activities" (K. Persad, J. O'Connor, and K. Varghese, Journal ofManagement Engineering, 1995:41-47). Each value represents an average of severalprojects, and two outliers have been deleted.Cost (y)251Person-Hours (x)9395796469028912428329413813826981385663345106935569455253415911771266802148194547162327Compute the least-squares line for predicting y from x.Plot the residuals versus the fitted values. Does the model seem appropriate?c. Compute the least-squares line for predicting In y from In x.Plot the residuals versus the fitted values. Does the model seem appropriate?C.e. Using the more appropriate model, construct a 95% prediction interval for the cost of aproject that requires 1000 person-hours of labor.

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Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter7: Distance And Approximation

Section7.3: Least Squares Approximation

Problem 31EQ

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