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| A scatter diagram shows the weekly total costs of production ($) in a certain factory plotted against the weekly output (units). A broadly linear pattern is evident, with r = 0.9. The regression equation is： COSTS = 1,500 + (15 x OUTPUT) Fifty data points have been included in the analysis, with output ranging from 100 units to 1,000 units. Output next week is planned to be 500 units. Read the following statements about estimates produced from this analysis. (i) Weekly fixed costs are approximately $1,500. (ii) Variable costs are approximately $15 per unit on average. (iii) Next week's production costs are likely to be about $9,000. Which of these statements are correct, all other things being equal? A (i) and (ii) only B (i) and (iii) only C (ii) and (iii) only D (i), (ii) and (iii) |