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An important application of regression analysis is in the estimation of cost . By collecting data on volume and cost and using the least squares
An important application of regression analysis is in the estimation of cost By collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, one can estimate the cost associated with a particular manufacturing volume. Consider the following sample of monthly production volumes and total costs data for a manufacturing operation for the year tableMonthProduction Volume unitsTotal Costs $January February March April May June July August September October November December calculqtw the pearson correlation coeffieint between production volume
An important application of regression analysis is in the estimation of cost By collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, one can estimate the cost associated with a particular manufacturing volume. Consider the following sample of monthly production volumes and total costs data for a manufacturing operation for the year
tableMonthProduction Volume unitsTotal Costs $January February March April May June July August September October November December calculqtw the pearson correlation coeffieint between production volume
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