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The belon data on the preduction volume x and total cest y (in dellari) for a particular
manufacturing coperation were used to develop the estimated regression equation ^=1,489.33+
7.12x. (a) The company's production schedule shows that 500 units must be produced next
month. What is the point estimate of the total cout (in doltars) for meat month? (Round your
answer to the neares cent.) (b) Oevelop a 9914 presction interval for the tecal cest (in dollecs) for
next monch. (fhound your answers to the nearest cent) xto1x (c) If an accounting cost repert at the
end of neat month shews that the actual production cost during the month was $6,400, should
mansgers be concerned about incurring such a nigh total cost for the month? Discust. Since
56,400 is the prediction interval, managers should concerned absut incurrisg such o high totat cost
for one month

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The belon data on the preduction volume x and total cest y .pdf

  • 1. The belon data on the preduction volume x and total cest y (in dellari) for a particular manufacturing coperation were used to develop the estimated regression equation ^=1,489.33+ 7.12x. (a) The company's production schedule shows that 500 units must be produced next month. What is the point estimate of the total cout (in doltars) for meat month? (Round your answer to the neares cent.) (b) Oevelop a 9914 presction interval for the tecal cest (in dollecs) for next monch. (fhound your answers to the nearest cent) xto1x (c) If an accounting cost repert at the end of neat month shews that the actual production cost during the month was $6,400, should mansgers be concerned about incurring such a nigh total cost for the month? Discust. Since 56,400 is the prediction interval, managers should concerned absut incurrisg such o high totat cost for one month