Question: A materials manager is analyzing the relationship between order costs and average quantity per order. She believes the relationship may be non-linear because order processing
A materials manager is analyzing the relationship between order costs and average quantity per order. She believes the relationship may be non-linear because order processing costs decrease as the quantity increases, and holding costs decrease as the quantity increases. The attached data set has monthly data over 36 months.
Fit a quadratic model that predicts cost based on quantity. Based on this model what is the predicted cost if order quantity is 371? Round your answer to 1 decimal place.
| Time Per Unit | Unit Number |
| 18.30 | 3 |
| 17.50 | 5 |
| 12.80 | 8 |
| 11.30 | 12 |
| 10.00 | 17 |
| 8.50 | 21 |
| 8.90 | 24 |
| 8.70 | 27 |
| 8.10 | 30 |
| 8.20 | 32 |
| 8.30 | 37 |
| 7.60 | 39 |
| 6.90 | 41 |
| 7.30 | 44 |
| 7.20 | 48 |
| 7.00 | 52 |
| 7.10 | 54 |
| 6.30 | 58 |
| 6.60 | 60 |
| 6.50 | 64 |
| 6.80 | 67 |
| 6.90 | 69 |
| 6.20 | 75 |
| 6.10 | 78 |
| 6.00 | 82 |
| 5.70 | 87 |
| 5.90 | 90 |
| 5.80 | 92 |
| 5.70 | 96 |
| 5.60 | 100 |
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