MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Question

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:
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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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