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Sandys Socks makes the worlds best socks. Information for the last eight months follows: Month Number of Socks Produced Total Cost January 8,000 $7,000 February
Sandys Socks makes the worlds best socks. Information for the last eight months follows: Month Number of Socks Produced Total Cost January 8,000 $7,000 February 4,500 5,000 March 7,000 6,250 April 8,600 7,750 May 3,750 5,000 June 6,000 6,250 July 3,000 4,250 August 5,000 5,750 Suppose Sandy performed a least-squares regression and obtained the following results: Coefficients Intercept 2718.59 X Variable 1 0.56 Put Sandys results into a linear equation format ( y = a + bx ) Which method is most accurate? High-Low Method Regression Method
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