The president of a small manufacturing firm is concerned about the continual growth in manufacturing costs in the past several years. The data series of the cost per unit for the firm’s leading product over the past eight years is as follows: YearCost/Unit ($)YearCost/Unit ($)120.00526.10225.00630.60329.10732.20427.10836.20 Choose the correct graph for the time series and linear trend.The correct graph is .A. B. C. D. Use Excel to develop a simple linear regression model for these data. What average cost increase has the firm been realizing per year? Do not round intermediate calculations. Round your answers to four decimal places.The regression equation is Unit Cost = + Year.The average cost increase per year is $ .

Find the given details below:Note that, for the first question the mentioned graphs are not…

Answered: The president of a small manufacturing…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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The president of a small manufacturing firm is concerned about the continual growth in manufacturing costs in the past several years. The data series of the cost per unit for the firm’s leading product over the past eight years is as follows:

Year	Cost/Unit ($)	Year	Cost/Unit ($)
1	20.00	5	26.10
2	25.00	6	30.60
3	29.10	7	32.20
4	27.10	8	36.20

Choose the correct graph for the time series and linear trend.

The correct graph is .

A.

B.

C.

D.
Use Excel to develop a simple linear regression model for these data. What average cost increase has the firm been realizing per year? Do not round intermediate calculations. Round your answers to four decimal places.

The regression equation is Unit Cost = + Year.

The average cost increase per year is $ .