A company examined cost data in an effort to model the relationship between number of items produced, x, and cost, C. The regression equation is C(x) = 0.52x + 366 with a coefficient of determination of 2 = 0.92. The company plans to use this function to determine the cost of producing 45 items. 410 400 -10 70 80 100 110 120 130 140 Is the company's plan appropriate?
A company examined cost data in an effort to model the relationship between number of items produced, x, and cost, C. The regression equation is C(x) = 0.52x + 366 with a coefficient of determination of 2 = 0.92. The company plans to use this function to determine the cost of producing 45 items. 410 400 -10 70 80 100 110 120 130 140 Is the company's plan appropriate?
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
Related questions
Question
100%
72
A. Yes, it is appropriate because as the number of items produced increases, so does the cost.
B. Yes, it is appropriate because the coefficient of determination is close to 1, and this is an interpolatin value
C. No, it is not appropriate because the data should be modeled with a logistic function
D. No, it is not appropriate because the data should be modeled with an exponential function
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
Algebra and Trigonometry (6th Edition)
Algebra
ISBN:
9780134463216
Author:
Robert F. Blitzer
Publisher:
PEARSON
Contemporary Abstract Algebra
Algebra
ISBN:
9781305657960
Author:
Joseph Gallian
Publisher:
Cengage Learning
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning
Algebra and Trigonometry (6th Edition)
Algebra
ISBN:
9780134463216
Author:
Robert F. Blitzer
Publisher:
PEARSON
Contemporary Abstract Algebra
Algebra
ISBN:
9781305657960
Author:
Joseph Gallian
Publisher:
Cengage Learning
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning
Algebra And Trigonometry (11th Edition)
Algebra
ISBN:
9780135163078
Author:
Michael Sullivan
Publisher:
PEARSON
Introduction to Linear Algebra, Fifth Edition
Algebra
ISBN:
9780980232776
Author:
Gilbert Strang
Publisher:
Wellesley-Cambridge Press
College Algebra (Collegiate Math)
Algebra
ISBN:
9780077836344
Author:
Julie Miller, Donna Gerken
Publisher:
McGraw-Hill Education