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Please round your answers to 1 decimal place. a. The partial regression coeffici

ID: 1203145 • Letter: P

Question

Please round your answers to 1 decimal place.

a. The partial regression coefficient for the labor cost is __________ .

b. For a given electric power cost, the total operating cost will increase by $____________ if labor costs increase by $1.

c. The partial regression coefficient for the electric power cost is _________ .

d. For a given labor cost, the total operating cost will increase by $____________ if electric power costs increase by $1.

e. If labor costs $6 million and electric power costs $0.3 million, the estimated annual cost to operate the plant is $___________ million.

Explanation / Answer

a. The partial regression coefficient for the labor cost is ___1.1____ .

b. For a given electric power cost, the total operating cost will increase by $____1.1________ if labor costs increase by $1.

c. The partial regression coefficient for the electric power cost is ____2.8_____ .

d. For a given labor cost, the total operating cost will increase by $____2.8________ if electric power costs increase by $1.

e. If labor costs $6 million and electric power costs $0.3 million, the estimated annual cost to operate the plant is $___8.44________ million.

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