Suppose you are an analyst for a company that produces four products

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MonthUnits of product 1 (x1)Units of product 2 (x2)Units of product 3 (x3)Units of product 4 (x4)Total production cost (y) 
1368376435451$73,271 
26545315501264$136,260 
3287519404612$83,189 
474676426571$71,316 
5315790174629$79,429 
6463468570900$100,897 
7369624327894$85,651 
8434796455599$99,197 
92605864281029$92,610 
104386864941020$106,545 
11329734484974$102,187 
12375464358935$86,182 
13303576381987$85,200 
14198283280684$64,319 
15451604512928$116,988 
163496184251011$95,426 
17143621384683$81,205 
18313567493865$93,629 
       
Suppose you are an analyst for a company that produces four products, and you are trying to decide how much of each product to produce next month. To model this decision problem, you need the unit variable production cost for each product. After some digging, you find the historical data on production levels and costs in the file P14_12.xlsx. Use these data to find estimates of the unit costs you need. You should also find an estimate of the fixed cost of production. Will this be of any use to you in deciding how much of each product to produce? Why or why not?
    • 11 years ago
    Suppose you are an analyst for a company that produces four products
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