I'm trying to establish a formula to predict output based on some sample data.
We produce items of different sizes... Small, Medium, Large. Also, we use sometimes a different number of employees to produce the items.
I would like to end up with some formula such as:
1.4 x SML + 1.1 x MED + 0.6 x LRG = Predicted Output
Is it regression that I need to do this? It's been a while since I used that, so I'm not sure if it works when adding together the input variables always equals the output. I'm just looking for the relationship between them. If possible, I'd like to see how the number of employees affects it as well.
Any help is greatly appreciated!
Here's some sample data:
Bookmarks