Machine hours and electricity costs for AMK Industries for the past yearwere as follows:MonthJanuaryFebruaryMarchAprilMayJuneJulyAugustMachinehours7273776966718063Electricitycosts$750$750$790$730$690$720$800$730Required:Using regression analysis determine the cost function for AMKIndustries

We have to estimate the regression equation of Electricity cost on Machine hoursIndependent variable…

Answered: Using regression analysis determine 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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For a particular red wine, the following data show the auction price for a 750-milliliter bottle and the age of the wine in June of 2016. Age (years) 37 20 29 33 41 26 29 45 34 22 Price ($) 256 142 217 255 331 168 209 297 237 182
16. Residuals and significance testing with a regression equation Experienced observers use aerial survey methods to estimate the number of snow geese in their summer range area west of Hudson Bay, Canada. A small aircraft flies over the range, and when a flock of geese is spotted, the observer estimates the number of geese in the flock. To investigate the reliability of the estimates, an airplane carrying two goose observers flies over 45 flocks. Each observer makes an independent estimate of the number of geese in each flock. A photograph is taken of each flock and a count made of the number of geese in the photograph. The sample data for the 45 flocks appear in the DataView tool. [Data source: These data were obtained from Lunneborg, C. E. (1994). Modeling experimental and observational data. Pacific Grove, CA: Duxbury Press.] Data SetGeese Sample Variables = 3 Observations = 45 Geese Flock ↓ Photo ↓ A Estimate ↓ B Estimate ↓ 1 62 40 50 2 26 30 20 3 88…
Situation: The Ipod Touch has been out for two years now and a lot of data has been collected.Relevant Relationship:There is a functional relationship between Price of an IPod Touch,� and Weekly Demand,�.Below is a table of data that have been collected Price,�,($) Weekly Demand,�,(1,000s) 150 207 170 199 190 198 210 185 230 181 250 169 A.. Find the linear model that best fits this data using regression and enter the model below(for entry round the linear parameter value to nearest 0.01 and constant parameter to nearest 1)�=�(�)= B. The squared correlation coefficient �2 was 0.95(note: values less than 0.95 MAY mean the model is not appropriate for making predictions)Now answer these two questions using the UNROUNDED model parametersC. What does the model predict will be the weekly demand if the price of an ipod touch is $184 ? (nearest 100)D. According to the model at what should the price be set in order to have a weekly demand of 176,200 ipod Touches? $…
Situation: The Ipod Touch has been out for two years now and a lot of data has been collected.Relevant Relationship:There is a functional relationship between Price of an IPod Touch,p and Weekly Demand,s.Below is a table of data that have been collected Price,p ,($) Weekly Demand,s ,(1,000s) 150 209 170 205 190 200 210 192 230 177 250 175 A.. Find the linear model that best fits this data using regression and enter the model below(for entry round the linear parameter value to nearest 0.01 and constant parameter to nearest 1)s=T(p)= C. What does the model predict will be the weekly demand if the price of an ipod touch is $172 ? (nearest 100) can you answer these two questions
Situation: The Ipod Touch has been out for two years now and a lot of data has been collected.Relevant Relationship:There is a functional relationship between Price of an IPod Touch,� and Weekly Demand,�.Below is a table of data that have been collected Price,�,($) Weekly Demand,�,(1,000s) 150 217 170 206 190 191 210 185 230 182 250 170 A.. Find the linear model that best fits this data using regression and enter the model below(for entry round the linear parameter value to nearest 0.01 and constant parameter to nearest 1)�=�(�)= B. The squared correlation coefficient �2 was 0.95(note: values less than 0.95 MAY mean the model is not appropriate for making predictions)Now answer these two questions using the UNROUNDED model parametersC. What does the model predict will be the weekly demand if the price of an ipod touch is $219 ? (nearest 100)D. According to the model at what should the price be set in order to have a weekly demand of 171,300 ipod Touches? $…
question)33The demand curve for a certain product is given by p(g) = 540-q^2. The supply curve is given by p(q) =1.1q^2. Find the producer surplus at equilibrium. The producer surplus at equilibrium is $ If necessary, round to two decimal places. Do not include units.

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Using regression analysis determine the cost function for AMK Industries