Given the following information, determine the equation for the unit formulation. (Round intermediate calculations to 4 decimal places)

Question

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Unit Number (X)

Unit Cost (Y) $

1 700.00
2 600.00
3 548.27
4 514.29

  
 
 
   Y = (700)(X) 0.9633
 
   Y = (700)(X) -0.2224
 
   Y = (700)(X) 0.8571
 
   Y = (700)(X) -0.0539

Answer 1

Y=aXʳ

For X=1, Y=700 so a=700 and Y=700Xʳ

For X=2, Y=600 so r=log(Y/a)/log(2)=log(6/7)/log(2)=-0.2224 approx, answer 2.

Therefore, let’s put X=3 then Y should be 700(3^-0.2224)=548.27 and Y=514.29 for X=4, which also fits.