Required information George Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom watches in small lots. One of the company's products, a platinum diving watch, goes through an etching process. The company has recorded etching costs as follows over the last six weeks: Week Units 6 11 5 7 10 48 Total Etching Cost $ 27 20 31 20 24 30 $ 152 For planning purposes, management wants to know the variable etching cost per unit and the total fixed etching cost per week. Required: 2-a. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week. 2-b. Express these estimates in the form Y= a + bx. 3. If the company processes eight units next week, what would be the expected total etching cost?
Required information George Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom watches in small lots. One of the company's products, a platinum diving watch, goes through an etching process. The company has recorded etching costs as follows over the last six weeks: Week Units 6 11 5 7 10 48 Total Etching Cost $ 27 20 31 20 24 30 $ 152 For planning purposes, management wants to know the variable etching cost per unit and the total fixed etching cost per week. Required: 2-a. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week. 2-b. Express these estimates in the form Y= a + bx. 3. If the company processes eight units next week, what would be the expected total etching cost?
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
ChapterCSR: Contents Of Student Resources
Section: Chapter Questions
Problem 7.29EP
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Transcribed Image Text:Required information
George Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom watches in small lots. One of the
company's products, a platinum diving watch, goes through an etching process. The company has recorded etching costs
as follows over the last six weeks:
Week
1
2
3
4
5
6
Units
9
6
11
5
7
10
48
Total Etching
Cost
$ 27
20
31
20
24
30
$ 152
For planning purposes, management wants to know the variable etching cost per unit and the total fixed etching cost per
week.
Required:
2-a. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week.
2-b. Express these estimates in the form Y = a-bx.
3. If the company processes eight units next week, what would be the expected total etching cost?
Complete this question by entering your answers in the tabs below.
Required 2A Required 2B Required 3
Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per
week.
Note: Round your answers to 2 decimal places.
Fixed etching cost per week
Variable etching cost per unit
Required 2A
Required 2B >
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