For each of the following situations, identify the independent variable and the dependent variable. a. Carron Corporation
Question:
For each of the following situations, identify the independent variable and the dependent variable.
a. Carron Corporation is trying to predict its monthly utilities cost. The cost manager has gathered the monthly utilities cost from each of the past 36 months and the machine hours used in each of those months.
b. The Tri-Otis Company controller has gathered 48 months of manufacturing overhead cost along with the total indirect labor hours worked in each of those 48 months. The controller is trying to predict manufacturing costs.
c. A manager from Day-Norton Company located in southern Florida would like to predict the company’s monthly cooling costs. The manager has a list of the average monthly outdoor temperatures for the past five years as well as the cooling cost in each of those months.
d. Kent eBikes rents bicycles to residents and visitors by the hour. The accounting manager would like to predict monthly repairs and maintenance costs and feels that monthly bicycle rental revenue would help predict monthly repairs and maintenance costs. The manager has data covering the past five years.
e. The Bonnaventure Hair Salon manager would like to predict the monthly cost of shampoo, conditioner, and other hair care products used by the salon’s stylists on clients. The manager has prepared a schedule of the cost of hair care products used in each of the past 48 months. The schedule also includes the number of clients served in each of those months.
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