A company kept a record of its hourly cost to produce a particular item as the...

 

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A company kept a record of its hourly cost to produce a particular item as the number of items produced each hour varied. Below is a table of data containing these data. # of Items Produced Each Hour 119 142 157 164 173 194 Hourly Cost (thousands of dollars) 51.2 63.9 72.4 76.0 79.8 88.7 a) Use the calculator to find a linear model for these data. Recall that a model is much more than simply the formula. Round each coefficient to 4 digits. Give the value for the slope and include units. b) c) Use your model to estimate the cost of producing 150 items in one hour. Do not use the rounded model for this estimate. Rather use the model that is stored in Y1 on the calculator. Round the answer properly and include units. d) How many items per hour can be produced at an hourly cost of $95,000? You may use the rounded model from Part A to determine the answer. Show work and be sure to clearly indicate the answer. A company kept a record of its hourly cost to produce a particular item as the number of items produced each hour varied. Below is a table of data containing these data. # of Items Produced Each Hour 119 142 157 164 173 194 Hourly Cost (thousands of dollars) 51.2 63.9 72.4 76.0 79.8 88.7 a) Use the calculator to find a linear model for these data. Recall that a model is much more than simply the formula. Round each coefficient to 4 digits. Give the value for the slope and include units. b) c) Use your model to estimate the cost of producing 150 items in one hour. Do not use the rounded model for this estimate. Rather use the model that is stored in Y1 on the calculator. Round the answer properly and include units. d) How many items per hour can be produced at an hourly cost of $95,000? You may use the rounded model from Part A to determine the answer. Show work and be sure to clearly indicate the answer.