Question
An important application of regression in manufacturing is the estimation of cost of production. Based on DATA from Ajax Widgets relating cost (Y) to volume
An important application of regression in manufacturing is the estimation of cost of
production. Based on DATA from Ajax Widgets relating cost (Y) to volume (X), what is the cost per widget?
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 |
Choose your answer from the following:
a) 7.54
b) 8.75
c) 7.38
d) None of the answers are correct
e) 8.21
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Understandable Statistics Concepts And Methods
Authors: Charles Henry Brase, Corrinne Pellillo Brase
9th Edition
9780618986927
