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Appendix; Least squares regression Wyoming Wholesale has gathered the following data on the number of shipments received and the cost of receiving reports for the
Appendix; Least squares regression Wyoming Wholesale has gathered the following data on the number of shipments received and the cost of receiving reports for the first seven weeks of the year. Number of Shipments Received Weekly Cost of Receiving Reports 50 $175 44 162 40 154 35 142 53 185 58 200 60 202 Note: When answering the following questions, round your answers to two decimal places. a. Using the least squares method, develop the equation for predicting weekly receiving report costs based on the number of shipments received. y= $ X + $ * (# of shipments) b. What is the predicted amount of receiving report costs for a month (assume a month is exactly four weeks) in which 165 shipments are received? $ X
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