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? 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 Question 26 options: None of the answers match my calculation. 7.38 7.54 8.75 8.21

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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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?
DATA:
Production Volume (units) Total Cost ($)
400 4688
450 4893
550 5957
600 6105
700 7111
750 7743
425 4983
475 5461
575 6136
625 6302
725 7538
775 7596
Question 26 options:
None of the answers match my calculation.
7.38
7.54
8.75
8.21
Transcribed Image Text:An important application of regression in manufacturing is the estimation of cost of production. Based on DATA from Ajax Widgets relating cost (Y) to volume (X), what is the cost per widget? DATA: Production Volume (units) Total Cost ($) 400 4688 450 4893 550 5957 600 6105 700 7111 750 7743 425 4983 475 5461 575 6136 625 6302 725 7538 775 7596 Question 26 options: None of the answers match my calculation. 7.38 7.54 8.75 8.21
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