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Hi just hoping you could assist with this homework question as I wasn't too sure how to do it, Thank you :) he following regression
Hi just hoping you could assist with this homework question as I wasn't too sure how to do it, Thank you :)
he following regression output was produced using data from the previous twelve months' to ?velop a cost function that described the association between total units produced and total anufacturing costs. Regression Statistics Iultiple R 0.83 Square 0.689 djusted R Square 0.687 andard Error 813.37 bservations 12 NOVA df MS SS F Significance F 1 21000052.7 21000052.7 25.173 10 8342447.3 834244.7 11 29342500 egression esidual otal 0.001 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95% Upper 95% 710.287 3.336 0.008 1005.670 10072.811 2005.670 10072.811 tercept 75,008.98 Variable 3.9420 1.533 5.017 0.001 7.400 19.224 7.400 19.224 total units produced is estimated to be 47,000 units, calculate the total manufacturing cost using e regression output. nter your answer to 2 decimal places. The following regression output was produced using data from the previous twelve months' to develop a cost function that described the association between total units produced and total manufacturing costs. Regression Statistics Multiple R 0.83 R Square 0.689 Adjusted R Square 0.687 Standard Error 813.37 Observations 12 ANOVA df Regression Residual Total Significance SS MS F F 1 21000052.7 21000052.7 25.173 0.001 10 8342447.3 834244.7 11 29342500 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95% Upper 95 710.287 3.336 0.008 1005.670 10072.811 2005.670 10072.81 Intercept 75,008.98 X Variable 3.9420 1 1.533 5.017 0.001 7.400 19.224 7.400 19.22 If total units produced is estimated to be 47,000 units, calculate the total manufacturing cost using the regression output. Enter your answer to 2 decimal placesStep by Step Solution
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