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Problem 4-4 An industrial engineer wishes to establish a relationship between cost per production batch of laminated wafers and size of run. The following data
Problem 4-4 An industrial engineer wishes to establish a relationship between cost per production batch of laminated wafers and size of run. The following data have been obtained from previous runs:
Size Cost |
1550 16679 |
786 23898 |
2175 10899 |
1234 13121 |
852 21919 |
1505 29925 |
1213 15627 |
1616 13801 |
2120 16419 |
1264 22974 |
3050 29349 |
3089 31237 |
1128 15982 |
1963 22215 |
1215 14459 |
2033 21384 |
1518 16497 |
1414 17510 |
2207 23483 |
1467 18012 |
(a) Use the method of least squares to find the estimated regression equation. Slope=? Intercept=?
(b) For a run of 2,000 units, use your regression line to predict the total production cost for a batch of this size. $=?
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