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A production company is studying the relationship between the average cost/unit and number of units produced in a batch. A sample of 10 batches
A production company is studying the relationship between the average cost/unit and number of units produced in a batch. A sample of 10 batches is selected and the data is given below. No. of Units Produced Cost/unit 20 37.7158 35 36.0158 50 30.8158 65 27.8158 80 20.0364 95 16.9064 110 14.3766 120 13.8564 135 13.9696 150 13.847 Develop an estimated regression equation with cost per unit as the dependent variable and number of units produced as the independent variable. How much variation in cost per unit is explained by the number of units produced? 86.1296 91.77% 95.33% 90.87% 89.73%
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