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A regression line to predict the cost of a job is given by Y = 1000 + 1500 X 1 + 40 X 2 ,
A regression line to predict the cost of a job is given by Y= 1000 + 1500X1+ 40X2,
where Y is the cost of the job in dollars, X1 is the number of tons of raw material required, and X2is the number of labor hours required. Give interpretations for the coefficients of X1. How much do you expect a job requiring 2 tons of raw materials and 10 labor hours to cost?
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