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The cost of manufacturing a lot of a certain product depends on the lot size, as shown Q2. below: Lot size, x Cost, hundreds of dollars, y 1 5. 9. 10 16 25 35 50 65 100 120 250 275 500 495 a) Find the least squared estimators Sxx, Sxy and Syy b) Find the y-intercept, a, and slope, b c) Write the equation for the best fit line d) Using the best fit line, determine the cost estimate for a lot size of 1200 e) Determine the correlation coefficient, r, and comment on the relationship between cost and lot size.

The cost of manufacturing a lot of a certain product depends on the lot size, as shown Q2. below: Lot size, x Cost, hundreds of dollars, y 1 5. 9. 10 16 25 35 50 65 100 120 250 275 500 495 a) Find the least squared estimators Sxx, Sxy and Syy b) Find the y-intercept, a, and slope, b c) Write the equation for the best fit line d) Using the best fit line, determine the cost estimate for a lot size of 1200 e) Determine the correlation coefficient, r, and comment on the relationship between cost and lot size.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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The cost of manufacturing a lot of a certain product depends on the lot size, as shown Q2. below: Lot size, x Cost, hundreds of dollars, y 1 2 9. 10 16 25 35 50 65 100 120 250 275 500 495 a) Find the least squared estimators Sxx, Sxy and Syy b) Find the y-intercept, a, and slope, b c) Write the equation for the best fit line d) Using the best fit line, determine the cost estimate for a lot size of 1200 e) Determine the correlation coefficient, r, and comment on the relationship between cost and lot size.
Transcribed Image Text:The cost of manufacturing a lot of a certain product depends on the lot size, as shown Q2. below: Lot size, x Cost, hundreds of dollars, y 1 2 9. 10 16 25 35 50 65 100 120 250 275 500 495 a) Find the least squared estimators Sxx, Sxy and Syy b) Find the y-intercept, a, and slope, b c) Write the equation for the best fit line d) Using the best fit line, determine the cost estimate for a lot size of 1200 e) Determine the correlation coefficient, r, and comment on the relationship between cost and lot size.
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