Boxes for packaging the glasses variable Short Answers 1. Using the output at the right, (7 pts) a. What is the variable cost/unit (slope)? Multiple R R Square Adjusted R Square Standard Error Observations ANOVA 0.750775 0.563662 0.454578 45,438.70968 5.167216 Regression Residual Total SS MS 1 10,668,627982 10,668,627,982 4 8,258,705,351 2,064,676,338 5 18927333,333 b. What is the fixed costs? t Stat Standard Error 97,762.101 23.241 Coefficients 265,475.95 52.83 P-value 0.053 0.085 Intercept X Variable 1 c. Create the cost equation. d. Is this a reliable cost equation (good-fit)? Why/why not? 2. What are joint costs? Explain how companies calculate joint costs, using the dairy industry as an example (milk to ice cream). (6 pts)