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 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. If a production run was scheduled to produce 55 units, what would you predict the cost per unit to be in dollars?
yhat = 7.88 − 0.05x
$ Incorrect: Your answer is incorrect. . I put the answer in as $5.13 and that is not right..HELP!!!!
Did you put $5.13 or 5.13?
I put in 5.13 it already has the dollar sign. But it was incorrect..
Ah! I see it now.
"y (in tens of thousands of dollars)"
That might be the culprit.
and that still did not help me. So I have tried it again and still did not get it right. please help!!!!
To determine the predicted cost per unit, you need to substitute the given value of x (55) into the equation and solve for y. Let's begin by plugging in the value of x into the equation:
yhat = 7.88 - 0.05 * x
yhat = 7.88 - 0.05 * 55
Now, we can simplify the equation:
yhat = 7.88 - 2.75
yhat = 5.13
So, the predicted cost per unit for a production run of 55 units is $5.13. It seems that you have correctly calculated the answer. If you received a different result initially, there might have been a mistaken calculation or some other error. Double-check your calculations and ensure that you properly substitute the value of x into the equation.