Use the given data to find a regression line that best fits the total annual cost data for cost C" role="presentation" style="display: inline; line-height: normal; word-spacing: normal; overflow-wrap:...


Use the given data to find a regression line that best fits the total annual cost data for cost C" role="presentation" style="display: inline; line-height: normal; word-spacing: normal; overflow-wrap: normal; white-space: nowrap; float: none; direction: ltr; max-width: none; max-height: none; min-width: 0px; min-height: 0px; position: relative;">CC in dollars as a function of the production level x" role="presentation" style="display: inline; line-height: normal; word-spacing: normal; overflow-wrap: normal; white-space: nowrap; float: none; direction: ltr; max-width: none; max-height: none; min-width: 0px; min-height: 0px; position: relative;">xx widgets. Here, cost is the dependent variable, and production level is the independent variable.


Find the regression function for cost, and write it as C(x)=mx+b" role="presentation" style="display: inline; line-height: normal; word-spacing: normal; overflow-wrap: normal; white-space: nowrap; float: none; direction: ltr; max-width: none; max-height: none; min-width: 0px; min-height: 0px; position: relative;">C(x)=mx+bC(x)=mx+b, where m" role="presentation" style="display: inline; line-height: normal; text-align: left; word-spacing: normal; overflow-wrap: normal; white-space: nowrap; float: none; direction: ltr; max-width: none; max-height: none; min-width: 0px; min-height: 0px; position: relative;">mm is rounded to the nearest tenth, and b" role="presentation" style="display: inline; line-height: normal; text-align: left; word-spacing: normal; overflow-wrap: normal; white-space: nowrap; float: none; direction: ltr; max-width: none; max-height: none; min-width: 0px; min-height: 0px; position: relative;">bb is rounded to the nearest tenth.

May 06, 2022
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