# Question: If a set of paired data gives the indication that

If a set of paired data gives the indication that the regression equation is of the form µY|x = α ∙ xβ^, it is customary to estimate a and β by fitting the line

To the points {(log xi, logyi); i = 1, 2, . . . , n} by the method of least squares.

(a) Use this technique to fit a power function of the form = ∙ xβ^ to the following data on the unit cost of producing certain electronic components and the number of units produced:

(b) Use the result of part (a) to estimate the unit cost for a lot of 300 components.

To the points {(log xi, logyi); i = 1, 2, . . . , n} by the method of least squares.

(a) Use this technique to fit a power function of the form = ∙ xβ^ to the following data on the unit cost of producing certain electronic components and the number of units produced:

(b) Use the result of part (a) to estimate the unit cost for a lot of 300 components.

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