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An accountant wishes to predict direct labor cost (y) on the basis of the batch size (x) of a product produced in a job shop. Data for 12 runs are given. (.xls file is also provided) Directed Labor Cost (y) 71 663 381 138 861 145 493 Batch Size (x) 5 62 35 12 83 14 46

An accountant wishes to predict direct labor cost (y) on the basis of the batch size (x) of a product produced in a job shop. Data for 12 runs are given. (.xls file is also provided) Directed Labor Cost (y) 71 663 381 138 861 145 493 Batch Size (x) 5 62 35 12 83 14 46

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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548 251 1024 435 772 52 23 100 c) Interpret the meaning of the slope B₁ d) Interpret the meaning of the y-intercept Bo e) Find an estimation for the variability of the model. 41 75 a) Using scatter plot, discuss if linear regression model is a good fit. b) Use the software of your choice fit a regression line.
Transcribed Image Text:548 251 1024 435 772 52 23 100 c) Interpret the meaning of the slope B₁ d) Interpret the meaning of the y-intercept Bo e) Find an estimation for the variability of the model. 41 75 a) Using scatter plot, discuss if linear regression model is a good fit. b) Use the software of your choice fit a regression line.
An accountant wishes to predict direct labor cost (y) on the basis of the batch size (x) of a product produced in a job shop. Data for 12 runs are given. (.xls file is also provided) Directed Labor Cost (y) 71 663 381 138 861 145 493 Batch Size (x) 5 62 35 12 83 14 46
Transcribed Image Text:An accountant wishes to predict direct labor cost (y) on the basis of the batch size (x) of a product produced in a job shop. Data for 12 runs are given. (.xls file is also provided) Directed Labor Cost (y) 71 663 381 138 861 145 493 Batch Size (x) 5 62 35 12 83 14 46
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