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Question

An important application of regression in manufacturing is the estimation of cost of production. Based on the

information below from Ajax Widgets relating cost (Y) to volume (X), what is the cost of producing 600 widgets?


Production Volume (units) Total Cost ($)

400 5424

450 5657

550 5759

600 7294

700 7583

750 8603

425 5311

475 6093

575 6662

625 7380

725 7784

775 8588

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