Question: Regression - Estimation Question 27 (4 points) An important application of regression in manufacturing is the estimation of cost of production. Based on DATAfrom Ajax

Regression - Estimation

Question 27 (4 points)

An important application of regression in manufacturing is the estimation of cost of production. Based on DATAfrom Ajax Widgets relating cost (Y) to volume (X), what is the cost of producing 600 widgets?

Question 27 options:

	5826
	6312
	None of the answers are correct.
	6954
	5206

Production Volume (units)	Total Cost ($)
400	3430
450	4080
550	4878
600	4884
700	5913
750	6402
425	4273
475	4362
575	5089
625	5446
725	6017
775	6591

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