The president of a small manufacturing firm is concerned about the continual growth in manufacturing costs in the past several years. The data series of the cost per unit for the firm’s leading product over the past eight years is as follows: Year Cost/Unit ($) Year Cost/Unit ($) 1 20.00 5 26.10 2 25.00 6 30.60 3 29.10 7 32.20 4 27.10 8 36.20 Choose the correct graph for the time series and linear trend. The correct graph is . A. B. C. D. Use Excel to develop a simple linear regression model for these data. What average cost increase has the firm been realizing per year? Do not round intermediate calculations. Round your answers to four decimal places. The regression equation is Unit Cost = + Year. The average cost increase per year is $ .
The president of a small manufacturing firm is concerned about the continual growth in manufacturing costs in the past several years. The data series of the cost per unit for the firm’s leading product over the past eight years is as follows: Year Cost/Unit ($) Year Cost/Unit ($) 1 20.00 5 26.10 2 25.00 6 30.60 3 29.10 7 32.20 4 27.10 8 36.20 Choose the correct graph for the time series and linear trend. The correct graph is . A. B. C. D. Use Excel to develop a simple linear regression model for these data. What average cost increase has the firm been realizing per year? Do not round intermediate calculations. Round your answers to four decimal places. The regression equation is Unit Cost = + Year. The average cost increase per year is $ .
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.4: Multiple Regression Models
Problem 16P: Suppose that a regional express delivery service company wants to estimate the cost of shipping a...
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The president of a small manufacturing firm is concerned about the continual growth in
Year | Cost/Unit ($) | Year | Cost/Unit ($) |
1 | 20.00 | 5 | 26.10 |
2 | 25.00 | 6 | 30.60 |
3 | 29.10 | 7 | 32.20 |
4 | 27.10 | 8 | 36.20 |
-
Choose the correct graph for the time series and linear trend.
The correct graph is .
A. B. C. D. -
Use Excel to develop a simple linear regression model for these data. What average cost increase has the firm been realizing per year? Do not round intermediate calculations. Round your answers to four decimal places.
The regression equation is Unit Cost = + Year.
The average cost increase per year is $ .
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