Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1.00 points Odessa, Inc., manufactures one model of computer desk. The following data are available regarding units shipped and total shipping costs Number of Units

image text in transcribed
image text in transcribed
1.00 points Odessa, Inc., manufactures one model of computer desk. The following data are available regarding units shipped and total shipping costs Number of Units Shipped Total Shipping Co Month January February March April May June July $2850 2.100 1,900 2,300 4,000 4,050 3.350 Required: 1. Prepare a scattergraph of Odessa's shipping cost and draw the line you believe best fits the data Instructions 1. Use the point tool (7 points) to plot each Units Shipped/Total cost combination. 2. To enter exact coordinates, double click on the point and enter the values for each Units Shipped and Total Cost. 3. Use the line tool provided to plot an approximate regression line for this data. To use the line tool, first click on the appropriate y-in Scattergraph-Cost of Shipping 550 0 10 20 30 40 so do to so so 100 Number of Units Shipped reset 3. Using the high-low method, calculate Odessa's total fixed shipping costs and variable shipping cost per unit. Fixed Cost Variable Cost per Unit 4. Perform a least-squares regression analysis on Odessa's data. (Use Microsoft Excel or a statistical package to find Coefficients Intercept X Variable 5. Using the regression output, create a linear equation (y = a + bx ) for estimating Odessa's shipping costs. Total Shipping Cost = Number of Units Shipped

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Yes You Can Get A Financial Life

Authors: Ben Stein, Phil Demuth

1st Edition

1401911250, 978-1401911256

More Books

Students also viewed these Accounting questions