Nt1310 Unit 2 Regression Analysis

1179 Words5 Pages
TASK 1 A. Complete the attached “Simulation Template” to determine the following costs: 1. Average materials cost per unit The first thing I had to do was figure out the random numbers interval in order to figure out the material cost per unit. Materials Probability Cost Random Numbers Interval* 0.2 $ 33.00 0.00 < 0 .20 0.33 $ 35.00 0.21 < 0.53 0.37 $ 38.00 0.54< 0.90 0.1 $ 39.00 0.91 < 1 *The random number interval came from the probability which was provided in the simulation template. I first start with 0.00 less than the probability which is 0.20 then we start at 0.21 less than 0.53. I came up with 0.53 from adding the initial probability of 0.20 and the second 0.33. Next I start at 0.54 less than 0.90 these figures come from adding 0.53 plus the third probability of 0.37. Lastly, I start at 0.91 less than 1 and again I adding 0.90 plus the last probability of 0.10. Now let’s find the Average materials cost per unit. Let’s being by…show more content…
Now we all the 12 costs per units amount from table 2 and divided by 12 in order to get the average. 38 + 38 + 38 + 35 + 35 + 38 + 35 + 38 + 33 + 39 +35 +35 = 437 Now 437/12 = 36.45 The average materials cost per unit is $36.45 2. Average labor cost per unit I use the same formula as I did above to figure out the average labor cost per unit. Labor Probability Cost Random Numbers Interval 0.18 $ 22.00 0.0 < 0.18 0.08 $ 23.00 0.19 < 0.26 0.25 $ 24.00 0.27 < 0.51 0.19 $ 25.00 0.52 < 0.70 0.3 $ 28.00 0.71 <

More about Nt1310 Unit 2 Regression Analysis

Open Document