Problem 1. If a set of paired data gives the indication that the regression equation is...

  

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Problem 1. If a set of paired data gives the indication that the regression equation is of the form ya e, it is customary to estimate a and 3 by fitting the line log i = logô + Ở - log to the points {(log, log y): i = 1,2,...,n} by the methods of least squares, where log() is the common logarithm (base 10). (a) (12 pts) Use this technique to fit a power function of the form = &- to the following data on the unit cost of producing certain electronic components and the number of units produced: Lot size Unit cost x Y 50 $100 100 $50 $25 $9 $5 250 500 1000 (b) (5 pts) Use the result of part (a) to estimate the unit cost for a lot of 300 components. Problem 1. If a set of paired data gives the indication that the regression equation is of the form ya e, it is customary to estimate a and 3 by fitting the line log i = logô + Ở - log to the points {(log, log y): i = 1,2,...,n} by the methods of least squares, where log() is the common logarithm (base 10). (a) (12 pts) Use this technique to fit a power function of the form = &- to the following data on the unit cost of producing certain electronic components and the number of units produced: Lot size Unit cost x Y 50 $100 100 $50 $25 $9 $5 250 500 1000 (b) (5 pts) Use the result of part (a) to estimate the unit cost for a lot of 300 components.

Answer rating: 100% (QA)

Unit Lot size Cost base 10 X y logx 50 100 16990 2... View the full answer