{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-29T02:37:36-04:00", "answer_date": "2024-06-29 02:37:36", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4450462", "url": "\/study-help\/questions\/assignment-5-shortly-after-being-hired-as-an-analyst-with-4450462", "question_creation_date_js": "2024-06-29T02:37:36-04:00", "question_creation_date": "Jun 29, 2024 02:37 AM", "meta_title": "[Solved] Assignment 5 Shortly after being hired as | SolutionInn", "meta_description": "Answer of - Assignment 5 Shortly after being hired as an analyst with Hidden Cove Rentals in Coastal North Carolina, Matt Loman wa | SolutionInn", "meta_keywords": "assignment,5,shortly,hired,analyst,hidden,cove,rentals,coastal,north,carolina,matt", "question_title_h1": "Assignment 5 Shortly after being hired as an analyst with Hidden Cove Rentals in Coastal North Carolina, Matt Loman was asked to prepare a report", "question_title": "Assignment 5 Shortly after being hired as an analyst with Hidden Cove", "question_title_for_js_snippet": "Assignment 5 Shortly after being hired as an analyst with Hidden Cove Rentals in Coastal North Carolina, Matt Loman was asked to prepare a report that focused on the company's order processing costsa cost driven largely by the number of rental invoices written Matt knew that he could use several different tools to analyze cost behavior, including scatter diagrams, least squares regression, and the high low method In addition, he knew that he could present the results of his analysis in the form of algebraic equations Those equations follow Scatter diagram OP $56,000 $6 80Rl Least squares regression OP $59,000 $6 75Rl High low method OP $53,500 $7 25Rl where OP total order processing costs and RI number of rental invoices written Matt had analyzed data over the past 12 months and built equations based on these data, purposely including the slowest month of the year and the busiest month so that things would tend to even out He observed that February was especially slow because of a paralyzing ice storm, one that forced the company to close for four days Reguired A Will scatter diagrams, least squares regression, and the high low method normally result in the same equation Why B Assuming the use of least squares regression, explain what the $59,000 and $6 75 figures represent C Assuming the use of a scatter diagram, predict the order processing cost of an upcoming month when Hidden Cove expects to write 2,500 rental invoices D Did Matt err in constructing the equations on data of the past 12 months Briefly discuss If yes, determine which of the three tools is likely to be affected the most and explain why", "question_description": "
\"image<\/div><\/div><\/div><\/figure> Assignment 5 Shortly after being hired as an analyst with Hidden Cove Rentals in Coastal North Carolina, Matt Loman was asked to prepare a report that focused on the company's order processing costsa cost driven largely by the number of rental invoices written. Matt knew that he could use several different tools to analyze cost behavior, including scatter diagrams, least-squares regression, and the high-low method. In addition, he knew that he could present the results of his analysis in the form of algebraic equations. Those equations follow. Scatter diagram: OP = $56,000 + $6.80Rl Least-squares regression: OP = $59,000 + $6.75Rl High-low method: OP = $53,500 + $7.25Rl where OP = total order processing costs and RI = number of rental invoices written Matt had analyzed data over the past 12 months and built equations based on these data, purposely including the slowest month of the year and the busiest month so that things would \"tend to even out.\\\" He observed that February was especially slow because of a paralyzing ice storm, one that forced the company to close for four days. Reguired: A. Will scatter diagrams, least-squares regression, and the high-low method normally result in the same equation? Why? B. Assuming the use of least-squares regression, explain what the $59,000 and $6.75 figures represent. C. Assuming the use of a scatter diagram, predict the order processing cost of an upcoming month when Hidden Cove expects to write 2,500 rental invoices. D. Did Matt err in constructing the equations on data of the past 12 months? Briefly discuss. If \\\"yes,\" determine which of the three tools is likely to be affected the most and explain why", "transcribed_text": "", "related_book": { "title": "Accounting Principles", "isbn": "1119491630, 978-1119491637, 978-0470534793", "edition": "10th Edition", "authors": "Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/54.jpg", "uri": "\/textbooks\/accounting-principles-10th-edition-54", "see_more_uri": "" }, "free_related_book": { "isbn": "1446536475", "uri": "\/textbooks\/farm-machinery-tractors-a-collection-of-articles-on-the-operation-mechanics-and-maintenance-of-tractors-1st-edition-9781446536476-9781447483755", "name": "Farm Machinery Tractors A Collection Of Articles On The Operation Mechanics And Maintenance Of Tractors", "edition": "1st Edition" }, "question_posted": "2024-06-29 02:37:36", "see_more_questions_link": "\/study-help\/questions\/business-banking-2021-September-12", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/the-altitude-of-triangle-is-increasing-at-rate", "description": "The altitude of a triangle is increasing at a rate of 1 cm\/min while the area of the triangle is increasing at a rate of 2 cm2\/min, at what rate is the base of the triangle changing when the altitude...", "stars": 3 }, { "url": "\/study-help\/biostatistics\/using-the-birth-weight-data-set-a-fit-a-simple-1981325", "description": "Using the Birth Weight data set, (a) Fit a simple linear regression model for relating babys birth weight (????) to mothers weight at the last menstrual period (????). 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