Question
An important application of regression in manufacturing is the estimation of cost of production Based on the Data below from Ajax Widgets relating cost (Y)
An important application of regression in manufacturing is the estimation of cost of production Based on the Data below from Ajax Widgets relating cost (Y) to Volume (X), what is the cost per widget?
- None of the answers are correct
- 7.54
- 8.21
- 8.75
- 7.38
HINT: What is the regression equation? What do the regression constraints mean? 1 widget is a production volume of 1.
| Production Volume (units) | Total Cost ($) |
| 400 | 5424 |
| 450 | 5657 |
| 550 | 5759 |
| 600 | 7294 |
| 700 | 7583 |
| 750 | 8603 |
| 425 | 5311 |
| 475 | 6093 |
| 575 | 6662 |
| 625 | 7380 |
| 725 | 7784 |
| 775 | 8588 |
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Reading, Writing, And Proving A Closer Look At Mathematics
Authors: Ulrich Daepp, Pamela Gorkin
2nd Edition
1441994793, 9781441994790
