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Question
Louis Katz, a cost accountant at Papalote Plastics, Inc. (PPI), is analyzing the manufacturing costs of a molded plastic telephone handset produced by PPI. Louis's independent variable is production lot size (in 1,000's of units), and his dependent variable is the total cost of the lot (in $100's). Regression analysis of the data yielded the following tables.| Coefficients | Standard Error | t Statistic | p-value | |
| Intercept | 3.996 | 1.161268 | 3.441065 | 0.004885 |
| x | 0.358 | 0.102397 | 3.496205 | 0.004413 |
| Source | df | SS | MS | F | Se = 0.898 | |
| Regression | 1 | 9.858769 | 9.858769 | 12.22345 | r2 = 0.526341 | |
| Residual | 11 | 8.872 | 0.806545 | |||
| Total | 12 | 18.73077 |
For a lot size of 10,000 handsets, Louis' model predicts total cost will be _____.
a) $4,031.80
b) $757.60
c) $3,960.20
d) $354.01
e) $1873.077
Answer
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Q:
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Q:
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