An important application of regression in manufacturing is the
estimation of cost of production. Based on...
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An important application of regression in manufacturing is theestimation of cost of production. Based on DATA (see chart below)from Ajax Widgets relating cost (Y) to volume (X), what is the costper widget?
A: 8.75
B. 7.54
C: None of the answers are correct
D: 8.21
E. 7.38
Production volume (units)
Total cost ($)
400
450
550
600
700
750
425
475
575
625
725
775
5424
5657
5759
7294
7583
8603
5311
6093
6662
7380
7784
8588
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