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Star, Inc. used Excel to run a least-squares regression analysis, which resulted in the following output: Regression Statistics Multiple R 0.9755 R Square 0.9517 Observations
Star, Inc. used Excel to run a least-squares regression analysis, which resulted in the following output:
Regression Statistics | |
Multiple R | 0.9755 |
R Square | 0.9517 |
Observations | 30 |
Coefficients | Standard Error | T Stat | P-Value | |
Intercept | 175,003 | 61,603 | 2.84 | 0.021 |
Production (X) | 11.57 | 0.9213 | 12.55 | 0.000 |
What total cost would Star predict for a month in which production is 2,000 units?
$23,140
$198,143
$63,446
$175,003
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