The general perception is that the manufacturer of the product can reduce the cost required to manufacture a single product by increasing the number of manufactured products. The following material lists the quantities of products produced by one manufacturer and the corresponding costs per product.Material:nro of products102050100150200manufacturing cost per product9.49.29.08.58.17.4 a) Calculate the forecast for the product-specific manufacturing cost when a batch of 125 products has been ordered from the manufacturer.b) Estimate the variance parameter σ2 of the linear model in point a.c) Calculate the 99 percent prediction interval for the manufacturing cost per product when a batch of 110 products is ordered from the manufacturer.

We have two variables in the question: No. of products is independent variable as the manufacturer…

Answered: The general perception is that the…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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The general perception is that the manufacturer of the product can reduce the cost required to manufacture a single product by increasing the number of manufactured products. The following material lists the quantities of products produced by one manufacturer and the corresponding costs per product.

Material:

nro of products	10	20	50	100	150	200
manufacturing cost per product	9.4	9.2	9.0	8.5	8.1	7.4

a) Calculate the forecast for the product-specific manufacturing cost when a batch of 125 products has been ordered from the manufacturer.
b) Estimate the variance parameter σ2 of the linear model in point a.
c) Calculate the 99 percent prediction interval for the manufacturing cost per product when a batch of 110 products is ordered from the manufacturer.

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