Suppose you are given the following results from a least squares regression performed on a local coffee shops weekly cost data Which of the following statements is true a Total weekly variable cost is ($836 07 ) b The coffee shop incurs ($1 69 ) in variable costs for each customer served c Total we...

Suppose you are given the following results from a least- squares regression performed on a local coffee

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Suppose you are given the following results from a least- squares regression performed on a local coffee shop’s weekly cost data.

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Which of the following statements is true?

a. Total weekly variable cost is $$836.07.$

b. The coffee shop incurs $$1.69$ in variable costs for each customer served.

c. Total weekly fixed costs are $$836.07.$

d. Both b and c are true.

e. None of the above is true.

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Managerial Accounting

ISBN: 9780078110771

1st Edition

Authors: Stacey WhitecottonRobert LibbyRobert Libby, Patricia LibbyRobert Libby, Fred Phillips

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Question Posted: May 14, 2024 09:02 AM

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Suppose you are given the following results from a least- squares regression performed on a local coffee

Question:

Intercept X Variable 1 (customers served) Coefficients $836.07 1.69

Step by Step Answer:

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Managerial Accounting

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