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Suppose a firm reports the following results using the least-squares regression method: Y = $750 - $2.56XY is the daily repair and maintenance cost and
Suppose a firm reports the following results using the least-squares regression method: Y = $750 - $2.56XY is the daily repair and maintenance cost and X is the daily units of production in hundreds. The daily observations were over a one-month period. The results do not make sense to the manager of the repair and maintenance department. Required: What is the most plausible explanation for the apparently meaningless results?
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