A business is trying to estimate its costs for the next fiscal year. The business used a regression model to estimate fiscal year costs based on number of employees and number of product launches. The output from the regression model is shown below. P- Coefficients value Intercept 1,000,700 0.01 Number of 200,007 0.03 mployees Number of product launches 3,500,000 0.04 The business has 100 employees. It has no product launches planned. Of the following, which best estimates the costs for the next fiscal year? $20 million O $4.7 million O $3.7 million O $21 million

A business is trying to estimate its costs for the next fiscal year. The business used a regression model to estimate fiscal year costs based on number of employees and number of product launches. The output from the regression model is shown below. P- Coefficients value Intercept 1,000,700 0.01 Number of 200,007 0.03 mployees Number of product launches 3,500,000 0.04 The business has 100 employees. It has no product launches planned. Of the following, which best estimates the costs for the next fiscal year? $20 million O $4.7 million O $3.7 million O $21 million

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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