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The regression output for this simple linear regression mode.pdf

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This document discusses the results of a simple linear regression model that was conducted to predict total costs based on production rate. The regression output shows that total costs (y) can be predicted by the formula y=96.2+20.6x, where x is the production rate. If a shop plans to operate at a rate of 80 cups per hour, then based on the regression model the predicted total costs would be $169.24.

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The regression output for this simple linear regression model is given below: Regression Statistics: R2=0.6669Adj.R2=0.6613s=12sy=20.6sx=11.3y=96.2x=57.1 NV/A 20. Suppose that you plan to open a shop that will operate at a rate of 80 cups per hour. What do you predict your total costs will be? a) $62.19 b) $169.24 c) $300.10 d) Not enough information is given to determine the answer.

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