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A materials manager is analyzing the relationship between order costs and average quantity per order. She believes the relationship may be non-linear because order processing
A materials manager is analyzing the relationship between order costs and average quantity per order. She believes the relationship may be non-linear because order processing costs decrease as the quantity increases, and holding costs decrease as the quantity increases. The attached data set has monthly data over 36 months.
Fit a quadratic model that predicts cost based on quantity. Based on this model what is the predicted cost if order quantity is 385? Round your answer to 1 decimal place.
Cost | Quantity |
54.4 | 844 |
52.1 | 503 |
60.2 | 300 |
53.8 | 869 |
51.7 | 525 |
57.1 | 1030 |
61.1 | 288 |
49.8 | 577 |
53.9 | 490 |
48.2 | 588 |
47.5 | 606 |
57.4 | 325 |
59.6 | 1160 |
58.2 | 1072 |
58.7 | 308 |
58.1 | 1140 |
48.4 | 627 |
63.4 | 214 |
62.5 | 207 |
62.5 | 1174 |
62.7 | 1190 |
61.2 | 1166 |
55.9 | 1067 |
51.3 | 655 |
57.1 | 384 |
58.2 | 367 |
55.8 | 927 |
54.9 | 890 |
54.7 | 495 |
50.2 | 780 |
60.8 | 1168 |
54.8 | 403 |
51.3 | 741 |
51.9 | 712 |
49.8 | 612 |
55.5 | 870 |
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