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Star, Incorporated, used Excel to run a least-squares regression analysis, which resulted in the following output: Regression Statistics Multiple R 0.9720 R Square 0.9482 Observations
Star, Incorporated, used Excel to run a least-squares regression analysis, which resulted in the following output:
Regression Statistics | |
---|---|
Multiple R | 0.9720 |
R Square | 0.9482 |
Observations | 30 |
Coefficients | Standard Error | T Stat | P-Value | |
---|---|---|---|---|
Intercept | 174,720 | 61,320 | 2.85 | 0.021 |
Production (X) | 11.22 | 0.9227 | 12.16 | 0.000 |
What total cost would Star predict for a month in which production is 2,000 units?
Multiple Choice
$22,157
$63,165
$197,160
$174,020
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