Use the Given Data to Find the Equation of the Regression

question 100

Multiple Choice

Use the given data to find the equation of the regression line. Round the final values to three significant digits, if necessary.
- $\begin{array}{r|rrrrr}\hline x & 1 & 3 & 5 & 7 & 9 \\\hline y & 143 & 116 & 100 & 98 & 90\end{array}$

• A) \(\hat { y } = 150.7 - 6.8 \mathrm { x }\)
• B) \(\hat { y } = - 150.7 + 6.8 x\)
• C) \(\hat { y } = - 140.4 + 6.2 \mathrm { x }\)
• D) \(\hat { \mathrm { y } } = 140.4 - 6.2 \mathrm { x }\)

Apply the production function concepts to determine optimal factor demands.

Identify the impacts of price changes on factor demand and output supply.

Interpret the relationship between marginal product and factor demand.

Analyze the effects of input price changes on the firm's production choices.

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Definitions:

Contribution Margin Ratio

The percentage of each sales dollar remaining after variable costs have been deducted.

Fixed Expenses

Costs that do not change with the level of output or sales in the short term, such as rent or salaries.

Break-even Point

The production level at which total revenues equal total expenses, resulting in no profit or loss.

Unit Contribution Margin

Unit contribution margin refers to the difference between the selling price per unit and the variable cost per unit, highlighting the profitability of individual items.