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Regression - Estimation Question 27 (4 points) An important application of regression in manufacturing is the estimation of cost of production. Based on DATAfrom Ajax

Regression - Estimation

Question 27 (4 points)

An important application of regression in manufacturing is the estimation of cost of production. Based on DATAfrom Ajax Widgets relating cost (Y) to volume (X), what is the cost of producing 600 widgets?

Question 27 options:

5826

6312

None of the answers are correct.

6954

5206

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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