Final Version of Acct. 306 Assessment Project Fall 2018 For purposes of assessing computer literacy, use the accompanying data as directed a. Create a scatterplot of the observed number of units produced and the related manufacturing overhead. Fit a regression line to the scatterplot. b. c. Display the equation of that line and also r-squared on d. Simple regression: Use the Regression tool under the the scatterplot. add-in "Data Analysis" of Excel to generate a spreadsheet of output data with "UNITS PRODUCED" as the INDEPENDENT variable and MANUFACTURING OVERHEAD" as the DEPENDENT variable. e. Multiple regression: Use the Regression tool to determine a regression equation using the following twO independent variables (1) "units produced" and (2) "number of production batches" and u manufacturing overhead as the DEPENDENT variable sing critical thinking, please answer the following questions: a. What kind of relationship does the scatterplot show between the variables identified in 1(a)? b. Using the result of question I(d), what is your estimate of manufacturing overhead if 150 units were to be produced? c. How would you describe the quality of the relationship in part (a) based on the value of r-squared? d. After doing 1(e), do you believe that adding a second independent variable, "number of production batches to the regression analysis improves the resulting regression estimate compared to the result obtained using the simple regression equation that you computed by using just one independent variable, "number of units produced?" Explain the reason for your answer from the Regression tool output e. DETERMINE THE FOLLOWING DATA: (1) average values for DM cost/unit and DL cost/unit and (2) the VARIABLE manufacturing overhead cost/unit and the total FIXED manufacturing overhead cost from the SIMPLE regression analysis. Once you have the data, calculate the BREAKEVEN POINT IN UNITS by inserting a formula into a cell on your Excel spreadsheet. Queens Lamps Ine specialices in manufacturing custom designed lamps It is a low velume manufacturer Its cost data for four years is as follows Sales Price P Variable Selli 12 Number o Direct Direet LaborManufacturing Jan 20X1 1557 3,703 0991 1631 3,453 4,723 1J006 5May 20x 2,970 3,750 u 20X1 1479 9422 0237 Now 20xI 1483 1,715 15 Mar 20x2277 3.5874.197 May 20X2 2032 1493 1,294 1,727 Sep 20x2 5,17 Da 20x2 Final Version of Acct. 306 Assessment Project Fall 2018 For purposes of assessing computer literacy, use the accompanying data as directed a. Create a scatterplot of the observed number of units produced and the related manufacturing overhead. Fit a regression line to the scatterplot. b. c. Display the equation of that line and also r-squared on d. Simple regression: Use the Regression tool under the the scatterplot. add-in "Data Analysis" of Excel to generate a spreadsheet of output data with "UNITS PRODUCED" as the INDEPENDENT variable and MANUFACTURING OVERHEAD" as the DEPENDENT variable. e. Multiple regression: Use the Regression tool to determine a regression equation using the following twO independent variables (1) "units produced" and (2) "number of production batches" and u manufacturing overhead as the DEPENDENT variable sing critical thinking, please answer the following questions: a. What kind of relationship does the scatterplot show between the variables identified in 1(a)? b. Using the result of question I(d), what is your estimate of manufacturing overhead if 150 units were to be produced? c. How would you describe the quality of the relationship in part (a) based on the value of r-squared? d. After doing 1(e), do you believe that adding a second independent variable, "number of production batches to the regression analysis improves the resulting regression estimate compared to the result obtained using the simple regression equation that you computed by using just one independent variable, "number of units produced?" Explain the reason for your answer from the Regression tool output e. DETERMINE THE FOLLOWING DATA: (1) average values for DM cost/unit and DL cost/unit and (2) the VARIABLE manufacturing overhead cost/unit and the total FIXED manufacturing overhead cost from the SIMPLE regression analysis. Once you have the data, calculate the BREAKEVEN POINT IN UNITS by inserting a formula into a cell on your Excel spreadsheet. Queens Lamps Ine specialices in manufacturing custom designed lamps It is a low velume manufacturer Its cost data for four years is as follows Sales Price P Variable Selli 12 Number o Direct Direet LaborManufacturing Jan 20X1 1557 3,703 0991 1631 3,453 4,723 1J006 5May 20x 2,970 3,750 u 20X1 1479 9422 0237 Now 20xI 1483 1,715 15 Mar 20x2277 3.5874.197 May 20X2 2032 1493 1,294 1,727 Sep 20x2 5,17 Da 20x2