A business is trying to estimate its costs for the next fiscal year. The business used a regression model to estimate fiscal year costs based on number of employees and number of product launches. The output from the regression model is shown below. P- Coefficients value Intercept 1,000,700 0.01 Number of 200,007 0.03 mployees Number of product launches 3,500,000 0.04 The business has 100 employees. It has no product launches planned. Of the following, which best estimates the costs for the next fiscal year? $20 million O $4.7 million O $3.7 million O $21 million

A business is trying to estimate its costs for the next fiscal year. The business used a regression model to estimate fiscal year costs based on number of employees and number of product launches. The output from the regression model is shown below. P- Coefficients value Intercept 1,000,700 0.01 Number of 200,007 0.03 mployees Number of product launches 3,500,000 0.04 The business has 100 employees. It has no product launches planned. Of the following, which best estimates the costs for the next fiscal year? $20 million O $4.7 million O $3.7 million O $21 million

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

ChapterB: Differential Calculus Techniques In Management

Section: Chapter Questions

Problem 8E

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