You collect the following production data for your firm: Question 1 Question tex
ID: 1112942 • Letter: Y
Question
You collect the following production data for your firm:
Question 1
Question text
Which do you consider to be the best trendline for this data?
Select one:
a.) A graph showing a trendline connecting the L,Q
dots from the previous question; L is measured on the horizontal axis and Q on the vertical axis. The estimated trendline is y=142.73x+149.04
.
b.) A graph showing a trendline connecting the L,Q
dots from the previous question; L is measured on the horizontal axis and Q on the vertical axis. The estimated trendline is y=24.211x2+436.3x483.48
.
c.)A graph showing a trendline connecting the L,Q
dots from the previous question; L is measured on the horizontal axis and Q on the vertical axis. The estimated trendline is y=4.7494x3+60.082x2+25.282x
.
d) A graph showing a trendline connecting the L,Q
dots from the previous question; L is measured on the horizontal axis and Q on the vertical axis. The estimated trendline is y=4.8052x3+61.166x2+19.165x+9.3206
.
Question 2
Question text
Use the regression results below to answer the following two questions:
R Square: 0.9994
Adjusted R Square: 0.9991
Adjusted R Square
0.815
Coefficients
Standard Error
t Stat
P-value
Intercept
34.62
1.99
17.40
0.0033
Q
-3.65
0.44
-8.36
0.0000
Q^2
0.18
0.02
8.92
0.0000
Select one:Using these results, calculate the Q
workers.
a. Q=1,557
; AP=213.9; MP=80.8
.
b. Q=1,984
; AP=205.4; MP=62.1
.
c. Q=1,616
; AP=202.0; MP=74.7
.
d. Q=1783
; AP=197.3; MP=79.3
.
Question 3
Question text
At 8 workers, is SMC
rising or falling, and how do you know?
Select one:
a. At 8 workers, SMC
is falling since MP
is falling.
b. At 8 workers, SMC
is falling since MP
is rising.
c. At 8 workers, SMC
is rising since MP
is rising.
d. At 8 workers, SMC
is rising since MP is falling.
QExplanation / Answer
Q.1 Option c
Q
L
a) y=142.73x+149.04
MAPE
b) Y=24.211x2+436.3x483.48
MAPE
c) Y=4.7494x3+60.082x2+25.282x
MAPE
d) y=4.8052x3+61.166x2+19.165x+9.3206
MAPE
74
1
291.78
294.30%
-71.39
196.47%
80.61
8.94%
89.65
21.15%
264
2
434.51
64.59%
292.28
10.71%
252.90
4.21%
292.31
10.73%
515
3
577.24
12.09%
607.52
17.97%
488.35
5.17%
617.31
19.87%
714
4
719.97
0.84%
874.34
22.46%
758.48
6.23%
1064.64
49.11%
1,049
5
862.70
17.76%
1092.75
4.17%
1034.79
1.36%
1634.30
55.80%
1,319
6
1005.43
23.77%
1262.72
4.27%
1288.77
2.29%
2326.29
76.37%
1,445
7
1148.16
20.54%
1384.28
4.20%
1491.95
3.25%
3140.61
117.34%
1,642
9
1433.62
12.69%
1482.13
9.74%
1631.87
0.62%
5136.25
212.80%
1,539
10
1576.35
2.43%
1458.42
5.24%
1511.62
1.78%
6317.57
310.50%
1,208
11
1719.08
42.31%
1386.29
14.76%
1226.57
1.54%
7621.22
530.90%
Average
49.13%
29.00%
3.54%
140.46%
Q. 2.
Using Q=4.7494x3+60.082x2+25.282x, we get Q = 1616 and AP = 202 at x = 8
Q.3
Option a
a. At 8 workers, SMC is falling since MP is falling.
Q
L
c) Y=4.7494x3+60.082x2+25.282x
MAPE
AP
MP
74
1
80.61
8.94%
81
264
2
252.90
4.21%
126
172.28
515
3
488.35
5.17%
163
235.45
714
4
758.48
6.23%
190
270.13
1,049
5
1034.79
1.36%
207
276.31
1,319
6
1288.77
2.29%
215
253.99
1,445
7
1491.95
3.25%
213
203.17
8
1616
202
123.86
1,642
9
1631.87
0.62%
181
16.06
1,539
10
1511.62
1.78%
151
-120.25
1,208
11
1226.57
1.54%
112
-285.05
3.54%
Q
L
a) y=142.73x+149.04
MAPE
b) Y=24.211x2+436.3x483.48
MAPE
c) Y=4.7494x3+60.082x2+25.282x
MAPE
d) y=4.8052x3+61.166x2+19.165x+9.3206
MAPE
74
1
291.78
294.30%
-71.39
196.47%
80.61
8.94%
89.65
21.15%
264
2
434.51
64.59%
292.28
10.71%
252.90
4.21%
292.31
10.73%
515
3
577.24
12.09%
607.52
17.97%
488.35
5.17%
617.31
19.87%
714
4
719.97
0.84%
874.34
22.46%
758.48
6.23%
1064.64
49.11%
1,049
5
862.70
17.76%
1092.75
4.17%
1034.79
1.36%
1634.30
55.80%
1,319
6
1005.43
23.77%
1262.72
4.27%
1288.77
2.29%
2326.29
76.37%
1,445
7
1148.16
20.54%
1384.28
4.20%
1491.95
3.25%
3140.61
117.34%
1,642
9
1433.62
12.69%
1482.13
9.74%
1631.87
0.62%
5136.25
212.80%
1,539
10
1576.35
2.43%
1458.42
5.24%
1511.62
1.78%
6317.57
310.50%
1,208
11
1719.08
42.31%
1386.29
14.76%
1226.57
1.54%
7621.22
530.90%
Average
49.13%
29.00%
3.54%
140.46%
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