Question: 2. Mac Renovations has been using the home's interior square feet for his exterior paint cost estimations. It was brought to his attention that adding
| 2. | Mac Renovations has been using the home's interior square feet for his exterior paint cost estimations. | |||||||||
| It was brought to his attention that adding a home's external openings might also be useful in | ||||||||||
| predicting the painting cost estimations. | ||||||||||
| The following data was gathered from the last 12 houses he had painted. | ||||||||||
| House | Costs | Square Feet | Openings |
| 1 | $ 2,810 | 2,500 | 7 |
| 2 | $ 3,742 | 3,150 | 12 |
| 3 | $ 3,100 | 2,800 | 8 |
| 4 | $ 3,150 | 2,850 | 8 |
| 5 | $ 4,700 | 4,750 | 16 |
| 6 | $ 3,225 | 2,950 | 8 |
| 7 | $ 2,920 | 2,700 | 7 |
| 8 | $ 2,836 | 2,550 | 6 |
| 9 | $ 3,242 | 2,600 | 7 |
| 10 | $ 4,112 | 3,700 | 13 |
| 11 | $ 3,210 | 2,650 | 7 |
| 12 | $ 3,965 | 3,550 | 12 |
| Based upon the above data, compute the profit equation that will produce the most accurate painting cost estimates. |
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
