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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 of producing 600 widgets?
| Production Volume (units) | Total Cost ($) |
| 400 | 3430 |
| 450 | 4080 |
| 550 | 4878 |
| 600 | 4884 |
| 700 | 5913 |
| 750 | 6402 |
| 425 | 4273 |
| 475 | 4362 |
| 575 | 5089 |
| 625 | 5446 |
| 725 | 6017 |
| 775 | 6591 |
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Introductory Algebra Concepts And Graphs
Authors: Charles P McKeague
1st Edition
1630980110, 9781630980115
