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