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Acme Motorcycle Co has determined that the engine size (in cc) is the key cost driver for estimating the cost of a new model of a motorcycle. They plan to introduce two new motorcycles, Cadet XL with engine size 750 cc, and Mega1800 with engine size 1800 c. Acme's historic cost model is as shown below: Engine cc Cost 50 $800 250 $3,700 500 $4,900 1000 $6,400 1250 $6,700 1500 $7,200 Use Excel to develop a CER model to determine the most reliable model for estimating the cost of a new motorcycle (using Trendline and R2). Then, predict the cost of Cadet XL and Mega1800 motorcycles. a) Develop then cut and paste the Excel model and chart below. b) Display the equation of the model and R? on the chart. c) State the type of the model/trendline and its coefficients.

Acme Motorcycle Co has determined that the engine size (in cc) is the key cost driver for estimating the cost of a new model of a motorcycle. They plan to introduce two new motorcycles, Cadet XL with engine size 750 cc, and Mega1800 with engine size 1800 c. Acme's historic cost model is as shown below: Engine cc Cost 50 $800 250 $3,700 500 $4,900 1000 $6,400 1250 $6,700 1500 $7,200 Use Excel to develop a CER model to determine the most reliable model for estimating the cost of a new motorcycle (using Trendline and R2). Then, predict the cost of Cadet XL and Mega1800 motorcycles. a) Develop then cut and paste the Excel model and chart below. b) Display the equation of the model and R? on the chart. c) State the type of the model/trendline and its coefficients.

Elementary Geometry For College Students, 7e
Elementary Geometry For College Students, 7e
7th Edition
ISBN:9781337614085
Author:Alexander, Daniel C.; Koeberlein, Geralyn M.
Publisher:Alexander, Daniel C.; Koeberlein, Geralyn M.
Chapter8: Areas Of Polygons And Circles
Section8.4: Cicumference And Area Of A Cicle
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Acme Motorcycle Co has determined that the engine size (in cc) is the key cost driver for estimating the cost of a new model of a motorcycle. They plan to introduce two new motorcycles, Cadet XL with engine size 750 cc, and Mega1800 with engine size 1800 cc. Acme's historic cost model is as shown below: Engine cc Cost 50 $800 $3,700 $4,900 250 500 1000 $6,400 1250 $6,700 1500 $7,200 Use Excel to develop a CER model to determine the most reliable model for estimating the cost of a new motorcycle (using Trendline and R?). Then, predict the cost of Cadet XL and Mega1800 motorcycles. a) Develop then cut and paste the Excel model and chart below. b) Display the equation of the model and R² on the chart. c) State the type of the model/trendline and its coefficients. d) State the cost of Cadet XL and Mega1800. e) Provide a rationalization for the optimal cost estimation model.
Transcribed Image Text:Acme Motorcycle Co has determined that the engine size (in cc) is the key cost driver for estimating the cost of a new model of a motorcycle. They plan to introduce two new motorcycles, Cadet XL with engine size 750 cc, and Mega1800 with engine size 1800 cc. Acme's historic cost model is as shown below: Engine cc Cost 50 $800 $3,700 $4,900 250 500 1000 $6,400 1250 $6,700 1500 $7,200 Use Excel to develop a CER model to determine the most reliable model for estimating the cost of a new motorcycle (using Trendline and R?). Then, predict the cost of Cadet XL and Mega1800 motorcycles. a) Develop then cut and paste the Excel model and chart below. b) Display the equation of the model and R² on the chart. c) State the type of the model/trendline and its coefficients. d) State the cost of Cadet XL and Mega1800. e) Provide a rationalization for the optimal cost estimation model.
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