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SUMMARY OUTPUT Regression Statistics Multiple R 0.99791439 R Square 0.99583312 Adjusted R Square 0.99583041 Standard Error 3813.87356 Observations 1536 ANOVA df SS MS F Significance

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SUMMARY OUTPUT
Regression Statistics
Multiple R 0.99791439
R Square 0.99583312
Adjusted R Square 0.99583041
Standard Error 3813.87356
Observations 1536
ANOVA
df SS MS F Significance F
Regression 1 5.3325E+12 5.3325E+12 366607.302 0
Residual 1534 2.2313E+10 14545631.6
Total 1535 5.3548E+12
Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0%
Intercept -58349.162 502.218877 -116.18273 0 -59334.27 -57364.053 -59334.27 -57364.053
Quantity 2001.34946 3.30538745 605.48105 0 1994.86591 2007.83302 1994.86591 2007.83302
As another matter with Analysts Incorporated, your team has carefully collected data on output and costs for a software servicing firm. The data are in the spreadsheet below. You've decided to model the firm's costs as a cubic cost function. Click here for the Excel Data File a. Use regression analysis to get estimates for the parameters of the firm's cubic cost function. Which of your estimates is statistically significant? (Click to select) b. What are the fixed costs for this firm? Round to the nearest penny. c. What is the average total cost when Q = 140? Round to the nearest penny. d. What is the marginal cost when Q = 140? Round to the nearest penny. As another matter with Analysts Incorporated, your team has carefully collected data on output and costs for a software servicing firm. The data are in the spreadsheet below. You've decided to model the firm's costs as a cubic cost function. Click here for the Excel Data File a. Use regression analysis to get estimates for the parameters of the firm's cubic cost function. Which of your estimates is statistically significant? (Click to select) b. What are the fixed costs for this firm? Round to the nearest penny. c. What is the average total cost when Q = 140? Round to the nearest penny. d. What is the marginal cost when Q = 140? Round to the nearest penny

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