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Determine the coefficient of determination

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You are involved in an analysis of the relationship between the cost of chemicals used in a manufacturing process and the volume of production. You have collected the following production usage data over the last five years and adjusted it for the effects of inflation:

Table 3.8-Production Usage Data

Production Units Chemical Costs

4 $800

15 $1,200

20 $1,400

30 $1,800

50 $2,000

2. Determine the coefficient of determination (r2).

Reference no: EM132976296

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