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+ Student Portal | Main X 5 BUS-352 Calendar X C Describe The Import X D SPSS Software | IBM x (52,793 unread) - ns2 X MindTap - Cengage | X *Homework Help - Q X + X -> CA @ https:/g.cengage.com/staticb/ui/evo/index.html?deploymentld=5996521885001503578683889386&elSBN=9780357131596&... A Q Gu Word T Download and Save.. Course Materials DL with TubeOffline Other favorites Nathaniel v CENGAGE | MINDTAP Q Search this course ? My Home Chapters 14 & 15 Assignment X 2. Courses 3. An important application of regression analysis in accounting is in the estimation of cost. By collecting data on volume and cost and using the least squares method to Catalog and Study Tools develop an estimated regression equation relating volume and cost, an accountant can estimate the cost associated with a particular manufacturing volume. Consider the 4. following sample of production volumes and total cost data for a manufacturing operation. Rental Options 5. Production Volume (units) Total Cost ($) College Success Tips 400 4,200 7. Career Success Tips 450 5,200 550 5,600 A-Z ? Help 600 6,100 10. 700 6,600 Give Feedback Ofice 750 7,200 a. Use these data to develop an estimated regression equation that could be used to predict the total cost for a given production volume. Do not round intermediate calculations. Compute b1 and bo (to 1 decimal). Do not round intermediate calculations. b1 N bo Complete the estimated regression equation (to 1 decimal). Do not round intermediate calculations. y = EC b. What is the variable cost per unit produced (to 2 decimal)? Do not round intermediate calculations. $ A+ c. Compute the coefficient of determination (to 3 decimals). Do not round intermediate calculations. Note: report ?" between 0 and 1. 12 = 62.F Sunny N 7:46 AM 5/17/2022 7+ Student Portal | Main X 5 BUS-352 Calendar X C Describe The Import X D SPSS Software | IBM x (52,793 unread) - ns2 X MindTap - Cengage | X *Homework Help - Q X + X -> CA @ https:/g.cengage.com/staticb/ui/evo/index.html?deploymentld=5996521885001503578683889386&elSBN=9780357131596&... A Q Gu Word T Download and Save.. Course Materials DL with TubeOffline Other favorites Nathaniel v CENGAGE |MINDTAP Q Search this course ? My Home Chapters 14 & 15 Assignment X 10. 700 6,600 Courses 750 7,200 Catalog and Study Tools a. Use these data to develop an estimated regression equation that could be used to predict the total cost for a given production volume. Do not round intermediate Rental Options calculations. College Success Tips Compute b1 and bo (to 1 decimal). Do not round intermediate calculations. b1 Career Success Tips bo A-Z ? Help Complete the estimated regression equation (to 1 decimal). Do not round intermediate calculations. y = + ac Give Feedback b. What is the variable cost per unit produced (to 2 decimal)? Do not round intermediate calculations. $ c. Compute the coefficient of determination (to 3 decimals). Do not round intermediate calculations. Note: report 72 between 0 and 1. 72 = What percentage of the variation in total cost can be explained by the production volume (to 1 decimal)? Do not round intermediate calculations. % d. The company's production schedule shows 500 units must be produced next month. What is the estimated total cost for this operation (to the nearest whole number)? Do not round intermediate calculations. $ A+ Hint(s) Check My Work 62.F Sunny O N WX 7:46 AM 5/17/2022 7+ Student Portal | Main X 5 BUS-352 Calendar X C Describe The Import X D SPSS Software | IBM x (52,793 unread) - ns2 X MindTap - Cengage | X *Homework Help - Q X + X -> CA https:/g.cengage.com/staticb/ui/evo/index.html?deploymentld=5996521885001503578683889386&elSBN=97803571315968... A Q Gu Word T Download and Save.. Course Materials DL with TubeOffline Other favorites Nathaniel v CENGAGE | MINDTAP Q Search this course ? X My Home Chapters 14 & 15 Assignment Consider the following data for a dependent variable y and two independent variables, 1 and 2. Courses 3. C1 y Catalog and Study Tools 30 12 95 5. 47 11 109 Rental Options 24 18 113 College Success Tips 51 17 179 8. 5 Career Success Tips 40 94 52 20 176 A-Z ? Help 10. 75 7 171 Give Feedback 36 13 117 59 14 143 77 16 211 The estimated regression equation for these data is y = -15.59 + 1.99x1 + 4.42x2 Here SST = 15,181.6, SSR = 13,993.6, sb, = 0.2465, and Sty = 0.9151. a. Test for a significant relationship among 1, 2, and y. Use a = 0.05. F = * (to 2 decimals) The p-value is less than 0.01 At a = 0.05, the overall model is significant V U b. Is B1 significant? Use a = 0.05 (to 2 decimals). Use t table. tB, = A+ The p-value is less than 0.01 62.F O N J C W X 7:48 AM 5/17/2022 7 Sunny+ Student Portal | Main X 5 BUS-352 Calendar X C Describe The Import X D SPSS Software | IBM x (52,793 unread) - ns2 X MindTap - Cengage | X *Homework Help - Q X + X -> CA https:/g.cengage.com/staticb/ui/evo/index.html?deploymentld=5996521885001503578683889386&elSBN=9780357131596&... A Q Gu Word T Download and Save.. Course Materials DL with TubeOffline Other favorites Nathaniel v CENGAGE |MINDTAP Q Search this course ? My Home Chapters 14 & 15 Assignment X 59 14 143 Courses 77 16 211 Catalog and Study Tools The estimated regression equation for these data is y = -15.59 + 1.99x1 + 4.42x2 Rental Options Here SST = 15,181.6, SSR = 13,993.6, sb, = 0.2465, and Shy = 0.9151. College Success Tips a. Test for a significant relationship among 1, X2, and y. Use a = 0.05. F = (to 2 decimals) Career Success Tips The p-value is less than 0.01 A-Z ? Help At a = 0.05, the overall model is significant V U Give Feedback b. Is B1 significant? Use a = 0.05 (to 2 decimals). Use t table. tB, = The p-value is less than 0.01 V U At a = 0.05, B1 is significant. c. Is B2 significant? Use a = 0.05 (to 2 decimals). Use t table. to, = X NJ The p-value is less than 0.01 At a = 0.05, B2 is V V significant. Hide Feedback Partially Correct A+ 62.F NO O C W X Q 7:48 AM Sunny O 5/17/2022 7