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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 20 Cost/unit 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 Below is a portion of the output from a regression analysis relating cost per unit (the dependent variable) to number of units produced (the independent variable). Coefficients Standard Error Lower Upper t Stat P-value 95% 95% Intercept No. of Units Produced 40.7083 2.2587 18.0232 0.0000 35.4998 45.9168 0.0237 -0.2113 -8.9247 0.0000 -0.2659 -0.1567 If the number of units produced is 100, what is the predicted cost per unit rounded to 2 decimal places? $17.56 $19.58 $40.50 $4.63 $247.13
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