Find the Equation of the Least Squares Line $y=33.7+2.14 x$

question 52

Multiple Choice

Find the equation of the least squares line.
-The paired data below consist of the test scores of 6 randomly selected students and the number of hours they studied for the test.

• A) \( y=33.7+2.14 x \)
• B) \( y=67.3+1.07 x \)
• C) \( y=-67.3+1.07 x \)
• D) \( y=33.7-2.14 x \)

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Definitions:

Unit Product Cost

The total expense incurred to manufacture or produce one unit of a product, including direct materials, labor, and overhead costs.

Variable Manufacturing Overhead

These are costs that vary with production volume, such as utilities for the production plant or materials.

Net Operating Income

The total revenue from operations minus the operating expenses, exclusive of taxes and interest, in a different phrasing.

Variable Manufacturing Overhead

Costs of manufacturing that vary directly with the level of production, such as utilities for the manufacturing plant.