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Crazy Sam's Deals produces and sells widgets each month. The accounts used multiple regression to be able to estimate their total monthly costs with
Crazy Sam's Deals produces and sells widgets each month. The accounts used multiple regression to be able to estimate their total monthly costs with two factors: units produced and the average monthly production lot size. The output from Excel is shown below: SUMMARY OUTPUT Regression Statistics Multiple R 0.88 R Square 0.78 Adjusted R Square 0.73 Standard Error 35436.50 Observations 12 Intercept Production (Units) Average Monthly Production Lot Size 11770.94 Coefficients Standard Error Stat 482171.92 2.49 98519.61 4.89 P-volue 0.00 0.65 3.82 0.00 Lower 95% 259305.07 1.01 Upper 95% 705038.76 3.97 4799.06 2.45 0.04 914.72 22627.16 What would total cost be if the company produced 92.000 units and had an average monthly production lot size of 267 (do not round sub-calculations) O $570.560.94 $493.945.35 O $1,017.296.36 $535.124.44
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