Required information Exercise 5A-5 (Algo) Least-squares Regression [LO5-11] George Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom watches in small lots. One of the company's products, a platinum diving watch, goes through an etching process. The company has recorded etching costs as follows over the last six weeks: Total Etching Week Units Cost 1 10 $27 2 7 20 3 4 12 31 6 20 8 24 11 30 54 $ 152 For planning purposes, management would like to know the variable etching cost per unit and the total fixed etching cost per week. Exercise 5A-5 Part 2 (Algo) 2-a. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week. 2-b. Express these estimates in the form Y=a+bx Complete this question by entering your answers in the tabs below. Req 2A Req 2B Express these estimates in the form Y = a + bx. (Round your answers to 2 decimal places.) Y= < Req 2A Req 2B >
Required information Exercise 5A-5 (Algo) Least-squares Regression [LO5-11] George Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom watches in small lots. One of the company's products, a platinum diving watch, goes through an etching process. The company has recorded etching costs as follows over the last six weeks: Total Etching Week Units Cost 1 10 $27 2 7 20 3 4 12 31 6 20 8 24 11 30 54 $ 152 For planning purposes, management would like to know the variable etching cost per unit and the total fixed etching cost per week. Exercise 5A-5 Part 2 (Algo) 2-a. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week. 2-b. Express these estimates in the form Y=a+bx Complete this question by entering your answers in the tabs below. Req 2A Req 2B Express these estimates in the form Y = a + bx. (Round your answers to 2 decimal places.) Y= < Req 2A Req 2B >
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter7: Distance And Approximation
Section7.3: Least Squares Approximation
Problem 31EQ
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