Correlation Analysis. The management of Hidalgo Inc. collected the following data over the most recent 12 months:
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Correlation Analysis. The management of Hidalgo Inc. collected the following data over the most recent 12 months:
Shipping Sales Month Expense Revenue January. $560 $26,500 February. 600 30,000 Month Expense Revenue March. $600 $29,000 April. 580 28,000 May. 570 27,000 June. 550 25,500 July. 590 30,000 August. 610 33,000 September. 650 35,000 »
October. 620 32,000 November. 630 30,500 December. 640 33,500 Required: Compute the coefficient of correlation, r, and the coefficient of determination, r2, for shipping expense and sales revenue.
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Related Book For
Cost Accounting
ISBN: 9780538828079
11th Edition
Authors: Lawrence H. Hammer, William K. Carter, Milton F. Usry
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