please need correct and well explained , computated and formulated answer please please no copy paste Star, Incorporated, used Excel to run a least-squares regression analysis, which resulted in the following output:Regression StatisticsMultiple RR SquareObservationsMultiple Choice$62,980InterceptProduction (X)What total cost would Star predict for a month in which production is 2,000 units?$197,317$22,3140.97230.948530$174,177Coefficients174,53711.39Standard Error61,1370.9215T Stat2.8512.36P-Value0.0210.000

The total cost is an important metric used by businesses to determine the profitability of their…

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ultiple R Square bservations 0.9723 0.9485 30 Coefficients Standard Error T Stat

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter8: Time Series Analysis And_forecasting

Section: Chapter Questions

Problem 14P: The following time series shows the sales of a particular product over the past 12...

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Question

please need correct and well explained , computated and formulated answer please please no copy paste

Star, Incorporated, used Excel to run a least-squares regression analysis, which resulted in the following output:
Regression Statistics
Multiple R
R Square
Observations
Multiple Choice
$62,980
Intercept
Production (X)
What total cost would Star predict for a month in which production is 2,000 units?
$197,317
$22,314
0.9723
0.9485
30
$174,177
Coefficients
174,537
11.39
Standard Error
61,137
0.9215
T Stat
2.85
12.36
P-Value
0.021
0.000

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