Question

A regression analysis was performed to determine the relationship between the costs of a product (y), the time to make the product (x1 ), the number of different materials used (x2), and the amount spent on marketing the product (x3). The estimated regression equation is . What is the estimated cost if the time to make the product is 5 hours, the number of different materials used is 4, and the amount spent on marketing is $100? a. 83 b. 205.4 c. 213 d. 185.4

Answer 1

Answer:  d. 185.4

Explanation:

x1 = The time to make the product which is 5 hours

x2 = the number of different materials used which is 4

x3 = the amount spent on marketing the product  which is $100

The Regression equation is given as;

y = $83 - 2x_{1} + 0.6x_{2} + 1.1x_{3}$

Cost = 83 - 2(5) + 0.6(4) + 1.1 (100)

Cost = 83 - 10 + 2.4 + 110

Cost = 185.4