Production quantity and the total cost of production are given in the form of a table....

Production quantity and the total cost of production are given in the form of a table.

Production quantity (100 tons)	42	16	48	50	30	12	18	28
Total cost (1000 of Rs.)	22	10	14	20	14	8	12	16

Determine the total cost production for (i) 2500 tons (ii) 4500 tons
If the total production cost is Rs. 50,000, then how many quantities were produced?

Expert Solution

	Production quantity (100 tons)(x)	Total cost (1000 of Rs.)(y)
	42	22
	16	10
	48	14
	50	20
	30	14
	12	8
	18	12
	28	16

	b0=	6.586701434
	b1=	0.259452412
	y on x
	y= b0 +b1x
	y= 6.5867 +0.2594524 x
	when x=2500 ton
	y = bo + b1 *25
( i)	y= 13.073
	when x=4500 ton
	y= 6.5867 +0.2594524 *45
( ii)	y= 18.26	18.26205997

	now x on y
	x= B0 +B1y
	B0 =	-6.025316456
	B1=	2.518987342
	x= -6.025316456+ 2.518987342y
	when y= 50,000
	x= -6.025316456+ 2.518987342*50
(iii)	x= 119.9241	119.9240506

orchestra answered 2 years ago

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