Macomb Inc. used Excel to run a least-squares regression analysis on the production cost data resulting in the following output: Regression Statistics Multiple R 0.9834 R Square 0.9596 Observations 30 Coefficients Standard Error T Stat P-Value Intercept 174,980 61,580 2.84 0.021 Production units (X) 11.53 0.9265 12.44 0.000 What total cost would Macomb predict for a month in which production is 2,000 units? Multiple Choice $174,900 $63,433 $198,040 $23,037
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Macomb Inc. used Excel to run a least-squares regression analysis on the production cost data resulting in the following output:
Regression Statistics
Multiple R 0.9834
R Square 0.9596
Observations 30
Coefficients Standard Error T Stat P-Value
Intercept 174,980 61,580 2.84 0.021
Production units (X) 11.53 0.9265 12.44 0.000
What total cost would Macomb predict for a month in which production is 2,000 units?
Multiple Choice
$174,900
$63,433
$198,040
$23,037
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