You are estimating the cost ($K) of optical sensors based on the power output of the sensor. Using the preliminary calculations from a data set of 8 sensors, determine the equation of the line.

?Y = 2515 ?X = 650 ?XY = 241400 ?X2 = 62600

A - Cost = 3.786 + 6.763 (Power)

B - Cost = 0.100 + 306.250 (Power)

C - Cost = 6.763 + 3.786 (Power)

D - Cost = 306.250 + 0.100 (Power)

Solution Summary

The solution estimates the linear model equations using the given information.

You are estimating thecost of opticalsensors based on the POWER OUTPUT of the sensor. You decide to calculate the coefficient of determination (R^2) as part of determining the goodness of fit of an equation. Using the preliminary calculations below, calculate the R^2 and determine its meaning. Σ(Yι - Ῡ)² =147172 Σ(Ŷ -

1. Compute the price elasticity of demand for paint and show your calculations.
Price Elasticity of Demand (PEoD)
= (% CHANGE IN QUANTITY DEMANDED) / (% CHANGE IN PRICE)
Price Quantity Demanded
$3.50 20 Gallons
$3.00 35 Gallons
.
PRICE OLD = $3.00
PRICE NEW = $3.50
Q DEMAND OLD = 35 GALLONS
Q DEMAND NEW = 20 G

You are estimating thecost ($K) of opticalsensors based on the power output of the sensor. Using the preliminary calculations from a data set of 8 sensors, determine the equation of the line. (Round your intermediate calculations to 3 decimal places)
ΣY = 2575 ΣX=680 ΣXY=241400 ΣX2=62600
A) Cost = 6.763 +

A coworker is considering the use of a log linear (power) model using weight to estimate thecost of a manufacturing effort. They have performed the following calculations in log space using natural logarithms. Select the corresponding unit space form of this power model equation.
Log Space b1 = 1.455294 b0 = 3.939388
100

An over temperature warning system has five temperature sensors. To prevent false alarms, the system is designed so that three or more of thesensors must sense over temperature before a warning signal is given. Assume that the probability of any single sensor failing is equal likely and that three sensors are in a failed state.

Given a one independent variable linear equation that states cost in $K, and given the following information, cauculate the standard error and determine it's meaning.
n=8 ?(Y-?) 2 =11008 Y=314.375
A)If we use this equation, we could typically expect to be off by ± $37.09K.
B)If we use this equation, we could typical

You have calculated the following power model and associated unit space values: You would select the:
Cost=1.72 (horsepower) 0.635 n=6 ?(Y-?) 2 =412
As an alternative you could use the linear equation:
Cost = 395.68 + 1.85 (Horsepower) SE=12.25
A) Linear equation because it has a higher standard error than the

There are four optical illusions that are placed over a graph. In each graph depicted, an optical illusion is created by having lines intersect a family of curves. In each case, the lines appear to be curved. Please find the value of dy/dx for the given values of x and y and please show work involved so I can learn from it.