The president of a small manufacturing firm is concerned about the continual increase in manufacturing costs over the past several years. The following figures provide a time series of the cost per unit for the firm's leading product over the past eight years. Click on the datafile logo to reference the data. DATA file Year Cost/Unit ($) Year Cost/Unit ($) 1 20.00 5 26.60 2 24.50 6 30.00 3 28.20 7 31.00 4 27.50 8 00 36.00 Plot (i) What type of pattern exists in the data? Trend Pattern (b) Use simple linear regression analysis to find the parameters for the line that minimizes MSE for this time series. If required, round your answers to two decimal places. y-intercept, bo Slope, b1 = MSE = = (c) What is the average cost increase that the firm has been realizing per year? Round your interim computations and final answer to two decimal places. (d) Compute an estimate of the cost/unit for next year. If required, round your answer to two decimal places.

The president of a small manufacturing firm is concerned about the continual increase in manufacturing costs over the past several years. The following figures provide a time series of the cost per unit for the firm's leading product over the past eight years. Click on the datafile logo to reference the data. DATA file Year Cost/Unit ($) Year Cost/Unit ($) 1 20.00 5 26.60 2 24.50 6 30.00 3 28.20 7 31.00 4 27.50 8 00 36.00 Plot (i) What type of pattern exists in the data? Trend Pattern (b) Use simple linear regression analysis to find the parameters for the line that minimizes MSE for this time series. If required, round your answers to two decimal places. y-intercept, bo Slope, b1 = MSE = = (c) What is the average cost increase that the firm has been realizing per year? Round your interim computations and final answer to two decimal places. (d) Compute an estimate of the cost/unit for next year. If required, round your answer to two decimal places.

Np Ms Office 365/Excel 2016 I Ntermed

1st Edition

ISBN:9781337508841

Author:Carey

Publisher:Carey

Chapter5: Working With Excel Tables, Pivottables, And Pivotcharts

Section5.3: Pivottable And Pivotchart

Problem 6QC

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