Essay
A production company is studying the relationship between the average cost/unit and number of units produced in a batch. A sample of 10 batches is selected and the data is given below.
a. Develop a scatter chart for these data. What does the scatter chart indicate about the relationship between average cost/unit and number of units produced?
b. Develop an estimated simple linear regression equation for the data. How much variation in the sample values of cost/unit is explained by this regression model?
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a. The scatter chart with number of unit...View Answer
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