a method to estimate the cost function. She uses the past data to obtain the following output from a simple regression analysis based on units produced: Constant $26,000 Standard error of Y estimate 1,074 R-squared 0.727 Degrees of Freedom 4 X Coefficient $9.50/unit Standard error of Coefficient 0.310 What is the estimated cost if the company plans to produce 1000 units:

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its not 35,500.

XYZ Corporation's accountant, Salima, has suggested the company try regression as
a method to estimate the cost function. She uses the past data to obtain the
following output from a simple regression analysis based on units produced:
Constant $26,000
Standard error of Y estimate 1,074
R-squared 0.727
Degrees of Freedom 4
X Coefficient $9.50/unit
Standard error of Coefficient 0.310
What is the estimated cost if the company plans to produce 1000 units:
Transcribed Image Text:XYZ Corporation's accountant, Salima, has suggested the company try regression as a method to estimate the cost function. She uses the past data to obtain the following output from a simple regression analysis based on units produced: Constant $26,000 Standard error of Y estimate 1,074 R-squared 0.727 Degrees of Freedom 4 X Coefficient $9.50/unit Standard error of Coefficient 0.310 What is the estimated cost if the company plans to produce 1000 units:
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