MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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The cost of making a batch of a certain product depends on the size of the batch, as shown by the following sample data:
Cost $ | 30 | 70 | 140 | 270 | 530 | 1010 | 2000 | 5100 |
size of the batch | 1 | 5 | 10 | 25 | 50 | 100 | 250 | 500 |
a) Fit a straight line to said data, with the least squares method, use the lot size as the independent variable.
b) Find a 95% confidence interval for alfa that can be interpreted as the fixed overhead cost of manufacture.
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