ou are given t

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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You are given the following data for output at a company and costs of production over the past 4 years  

Year

1

2

3

4

Output (‘000 units)  x 

20

16

15

24

Costs (K‘000)  y

82

70

80

90

 

If Y=a+bX, b=nΣXY- ΣXΣY and a=   Y-  bX 

                          nΣX2 - (ΣX)2 

Where X ,Y are the average values of X and Y and n is the number of pairs of data for X and Y. 

Required:

  1. Calculate an equation to determine the expected cost level for any given output volume                                                                        
  1. Prepare a forecast for total costs if output is at 20,000

units                     

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