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Macomb Inc. used Excel to run a least-squares regression analysis on the production cost data resulting in the following output:   Regression Statistics Multiple R    0.9834 R Square    0.9596 Observations    30        Coefficients    Standard Error    T Stat    P-Value Intercept    174,980     61,580              2.84               0.021 Production units (X)    11.53      0.9265      12.44       0.000 What total cost would Macomb predict for a month in which production is 2,000 units?   Multiple Choice $174,900 $63,433 $198,040 $23,037

Macomb Inc. used Excel to run a least-squares regression analysis on the production cost data resulting in the following output:   Regression Statistics Multiple R    0.9834 R Square    0.9596 Observations    30        Coefficients    Standard Error    T Stat    P-Value Intercept    174,980     61,580              2.84               0.021 Production units (X)    11.53      0.9265      12.44       0.000 What total cost would Macomb predict for a month in which production is 2,000 units?   Multiple Choice $174,900 $63,433 $198,040 $23,037

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Macomb Inc. used Excel to run a least-squares regression analysis on the production cost data resulting in the following output:
 

Regression Statistics
Multiple R    0.9834

R Square    0.9596

Observations    30

 

     Coefficients    Standard Error    T Stat    P-Value
Intercept    174,980     61,580              2.84               0.021

Production units (X)    11.53      0.9265      12.44       0.000


What total cost would Macomb predict for a month in which production is 2,000 units?

 

Multiple Choice

$174,900


$63,433


$198,040


$23,037

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