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A startup team is interested in creating a productivity app. Inestimating the cost of creating the app, they collected sample dataand developed the following regression
A startup team is interested in creating a productivity app. Inestimating the cost of creating the app, they collected sample dataand developed the following regression equation:
y? =?8.934+20.726x1+0.356x2+1.901x3
where | x1= number of developers |
x2= number of hours spent creating the app | |
x3= cost of software and testing ($'000) | |
y= total cost of creating app ($'000) |
a. What is the value of b2 inthe equation?
b2=
b. Does it make sense to interpret b0in this equation?
Yes
No
c. Predict the cost of creating an appinvolving 2 developers, 650 hours and $20,000 in software andtesting costs.
$
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