A manufacturing company is considering two alternative locations for a new facility.The fixed and variable costs for the two locations are found in the table below.For which volume of business would the two locations be equally attractive? If the company plans on producing 50,000 units,which location would be more attractive?
Definitions:
Independent Variable
A variable that is manipulated or changed in an experiment to test its effects on dependent variables.
Scatterplot
A graphical representation using dots to show the relationship or correlation between two variables.
Perfect Correlation
A relationship between two variables where one variable can be perfectly predicted from the other.
Correlation Coefficient
A numerical measure that indicates the strength and direction of a linear relationship between two quantitative variables.
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