Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A homemaker establishes her own business unit to manufacture bread toast maker in the year 2015. Now she estimates the sales of toast maker and
A homemaker establishes her own business unit to manufacture bread toast maker in the | ||
year 2015. Now she estimates the sales of toast maker and its total costs for the coming | ||
year, which is given in tabular form below | ||
Month | # of Toast maker | Total |
sold | Cost | |
Jan | 250 | $ 14,000 |
Feb | 450 | $ 22,000 |
Mar | 560 | $ 27,000 |
Apr | 270 | $ 21,000 |
May | 450 | $ 23,000 |
June | 500 | $ 25,000 |
July | 650 | $ 31,000 |
Aug | 710 | $ 33,000 |
Sep | 560 | $ 26,250 |
Oct | 580 | $ 27,000 |
Nov | 550 | $ 26,000 |
Dec | 320 | $ 17,500 |
Solve by Least-squares Regression Method ONLY AND COMPUTE THE FOLLOWING | ||
Requirements: | ||
(i) Variable cost per Toast maker= $ | ||
(ii) Fixed cost per month = $ | ||
(iii) Semi Variable costs per month = $ | ||
(iv) Semi Fixed costs per month = $ | ||
REMEMBER NOT TO SOLVE BY HIGH-LOW METHOD | ||
Need 100% Correct answer |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started