Question: Please do not handwrite Question 4 1 pts Use the regression function C(12) : ma: + b with m rounded to the nearest tenth and

Please do not handwrite

Please do not handwrite Question 4 1 pts Use the regression functionC(12) : ma: + b with m rounded to the nearest tenthand b rounded to the nearest tenth. Compute C(O), rounded to the

Question 4 1 pts Use the regression function C(12) : ma: + b with m rounded to the nearest tenth and b rounded to the nearest tenth. Compute C(O), rounded to the nearest tenth. Q The table below contains the price, demand, and total cost data for the production of w widgets. Here 11 is the price (in dollars) of a widget for an annual demand of :1: widgets, and C is the annual total cost (in dollars) of producing :1: widgets per year. Annual Total Cost of Producing Widgets Annual widget production :1: (widgets) Annual total cost C ($) 10 609 20 1105 30 1523 40 2150 50 2603 60 3121 70 3672 80 4103 90 4601 100 5214 In the next few screens, you will be asked to complete the following tasks. - Use the given data to nd a regression line C : mm + b that best ts the total annual cost C as a function of the annual number of widgets produced .13. Here, total cost is the dependent variable, and number of widgets is the independent variable. Find the regression function for cost, and write it as C(x) = ma: + b. . Use the data to make a scatter plot. Include your regression line on the same plot. Adjust the max/min to display the data in a reasonable way. On the plot, be sure to 0 Make a title for the plot "Annual Total Cost of Producing Widgets". 0 Label your axes. Label the horizontal axis "Annual widget production (widgets)", and label the vertical axis "Annual total cost ($)". - Does it look like the regression line models the data well? Why or why not? . Use the regression function you found to estimate C(w), for certain values of 00. Give the real-world interpretation of the result of each computation in complete sentences. Be sure to include units. . Using your regression function for cost, what is the xed cost? What is the variable cost? Give the real-world interpretation of the result of each computation in complete sentences. Be sure to include units. Question 1 1 pts Enter the value for m, rounded to the nearest tenth. Question 2 1 pts Enter the value for b, rounded to the nearest tenth. Question 3 1 pts Use the regression function C(m) = may + b with m rounded to the nearest tenth and b rounded to the nearest tenth. Compute C(45), rounded to the nearest tenth

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!