=+Bob has recently become aware of regression analysis. He estimated the following regression equation with overhead costs
Question:
=+Bob has recently become aware of regression analysis. He estimated the following regression equation with overhead costs as the dependent variable and labour-hours as the independent variable:
y = $48 271 + $3.93X Required 1 Plot the relationship between overhead costs and labour-hours. Draw the regression line and evaluate it using the criteria of economic plausibility, goodness of fit and slope of the regression line.
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Related Book For
Cost Accounting A Managerial Emphasis
ISBN: 9781442563377
2nd Edition
Authors: Monte Wynder, Madhav V. Rajan, Srikant M. Datar, Charles T. Horngren, William Maguire, Rebecca Tan
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