Use Excel "Add Trendline" to fit the data from Problem 8.1 (Page 324) and answer the following questions: (Production Rate as X and Profit as Y). This dataset has four observations of profit at four different production rate levels.

(a) Which of the following five functions produces the best fit, i.e. the highest R squre , for the data set (ignore the Moving average function): (Click to select) Exponential Linear Logarithmic Polynomial Power

(b) What is the Polynomial function with Order=2 generated by Trendline:

X² + X + (Three decimal places. Some coefficients might be negative. In such case, just ener the negative value although it looks strange to have a "+" sign followed by a "-" sign.)

(c) What is the lowest R square produced by the five models: R² = (four decimal places)

8.1. The J. P. Atkins Company will soon be introducing a new product. Estimates have been made of the monthly profit that would be generated by this product for each of four alternative values of the monthly production rate, as shown below. Production Rate Profit 200 $ 9,500 500 22,500 800 34,000 1,000 40,000