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BUSAC 187-5650 Spring 2021 Online Homework: Homework Chapter 6 Score: 0 of 4 pts E6-53B (similar to) 2 of 4 (1 complete) The manager
BUSAC 187-5650 Spring 2021 Online Homework: Homework Chapter 6 Score: 0 of 4 pts E6-53B (similar to) 2 of 4 (1 complete) The manager of the main laboratory facility at MetroHealth Center is interested in being able to predict the overhead costs each month for the lab. The manager believes that total overhead varies with the number of lab tests performed but that some costs remain the same each month regardless of the number of lab tests performed. Save HW Score: 20%, 4 of 20 pts Question Help After running a regression analysis on the first seven months of the year, the manager of the main laboratory facility at MetroHealth Center collects seven additional months of data. The number of tests performed and the total monthly overhead costs for the lab follow: (Click the icon to view the data.) Read the requirements. Requirements 1 and 2. Use Excel to run a regression analysis using data for August through February and determine the lab's cost equation (use the output from the regression analysis you perform using Excel). (Enter all dollar amounts to two decimal places.) y= x+ the ned 2 of 4 (1 complete) Regression analysis Requirements Save HW Score: 20%, 4 of 20 pts Use Excel to do the following: Run a regression analysis using data for August through February. Determine the lab's cost equation (use the output from the regression analysis you performed using Excel). Determine the R-square using the Excel output you obtain. What does the lab's R-square indicate? Predict the lab's total overhead costs for the month if 2,600 tests are performed. Number of Lab Total Laboratory Month Tests Performed Overhead 1. August.. 3,300 $ 21,550 2. September.... 3,200 $ a 22,300 3. October 3,450 $ 24,500 November.... 3,900 27,600 4. December 3,850 27,400 January 2,100 $ 20,300 February..... 2,650 $ 22,000 Print Done Clear All Print Done Check Answer
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