statistics

posted by .

A study was conducted to investigate the relationship between the cost, y (in tens of thousands of dollars), per unit of equipment manufactured and the number of units produced per run, x. The resulting equation for the line of best fit is given below, with x being observed for values between 10 and 200.
y = 7.13 − 0.01x
(a) If a production run was scheduled to produce 55 units, what would you predict the cost per unit to be in tens of thousands of dollars? $(00,000)

(b) What would be the cost per unit in dollars? $

  • statistics -

    Substitute 55 for x, then solve the equation for y.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. math

    the cost per hour of running an assembly line in a manufacturing plant is a function of the number of items produced per hour. The cost function is C(x) = 0.28x^2 - 0.7x + 1 where C(x) is the cost per hour in thousands of dollars and …
  2. Economics

    a firm in a purely competitive industry is currently producing a 1000 unir per day at a total cost of $450. if the firm produced 800 units per day, it total cost will be $300, and it it produced 500 units per day, it total cost will …
  3. statistics

    would someone please work this problem out in steps so I can understand it. book not helping confusing me more. A study was conducted to investigate the relationship between the cost, y (in tens of thousands of dollars), per unit of …
  4. statistics

    This question was previous answered and when I put the answer in it was wrong. I have tried to work out more like it and if that one is not right, what is wrong with it. A study was conducted to investigate the relationship between …
  5. Math

    The daily production costs C (in dollars per unit) for a manufacturer of lighting fixtures are given by the quadratic function C(X)=800-10X+0.25X2 where x is the number of units produced. How many fixtures should be produced to yield …
  6. Pre-Cal

    The total cost (in thousands of dollars) of a machine manufacturing unit is given by the function T(x) = 300 + 5x, where x is the number of machines produced. What is the average cost (in thousands of dollars) of manufacturing 200 …
  7. Statistics

    A study was conducted to investigate the relationship between the resale price, y (in hundreds of dollars), and the age, x (in years), of midsize luxury American automobiles. The equation of the line of best fit was determined below. …
  8. maths

    The daily production costs C( in dollars per unit) for a manufacturer of lighting fixtures are given by the quadratic function C(X)=800-10X+0.25X2 where x is the number of units produced. How many fixtures should be produced to yield …
  9. maths

    As the number of units manufactured increases from 4000 to 6000 the total cost of production increases form $22000 to $30000. Assuming a linear relationship between the cost and the number of units manufactured, what will be the cost …
  10. Statistics

    A manufacturer estimates that when x units of a particular commodity are produced each month, the total cost (in dollars) will be C(x) = 1/8x^2+4x+200 and all units can be sold at a price of p(x) = 49 - x dollars per unit. Determine …

More Similar Questions