Statistical cost function-use straight-line and quadratic

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Reference no: EM13816837

You have been presented with the following cost data and asked to fit a statistical cost function.

Quantity Total Cost

10 104

20 107

30 109

40 111.5

50 114.5

60 118

70 123

80 128.5

90 137

100 150

To create the graphs in excel, should the regression analysis tool under the Data analysis tab? How is the Trend line added to the graph?

1. Fit three possible statistical cost functions to the data. Use straight-line, quadratic, and cubic formulas.

Reference no: EM13816837

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