75 Hide hint for Question 26 What is the regression equation? What do the regression constants mean? 1 widget is a production volume of 1. Data: Production Volume (units) Total Cost ($) 400 4688 450 4893 550 5957 600 6105 700 7111 750 7743 425 4983 475 5461 575 6136 625 6302 725 7538 775 7596

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An important application of regression in manufacturing is the estimation of cost of production. Based on DATA from Ajax Widgets relating cost (Y) to volume (X), what is the cost per widget? Question 26 options: 7.38 7.54 8.21 None of the answers are correct 8.75 Hide hint for Question 26 What is the regression equation? What do the regression constants mean? 1 widget is a production volume of 1. Data: Production Volume (units) Total Cost ($) 400 4688 450 4893 550 5957 600 6105 700 7111 750 7743 425 4983 475 5461 575 6136 625 6302 725 7538 775 7596

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