Garfield Company manufactures a popular brand of dog repellant known as DogGone It, which it sells in gallon-size bottles with a spray attachment. The majority of Garfield's business comes from orders placed by homeowners who are trying to keep neighborhood dogs out of their yards. Garfield's operating information for the first six months of the year follows: Number of Operating Bottles Month Sold Cost January 1,040 $10,740 February1,370 15,770 March 1,720 16,100 April 2,400 19,870 May 3,400 27,280 June 3,620 34,900 Required: 3. Using the high-low method, calculate Garfield's total fixed operating costs and variable operating cost per bottle. (Do not round your intermediate calculations. Round your variable cost per unit answer to 2 decimal places and fixed cost answer to the nearest whole number.) GA Variable Cost per Unit Fixed Cost 9.36 4. Perform a least-squares regression analysis on Garfield's data. (Use Microsoft Excel or a statistical package to find the coefficients using least squares regression. Round your answers to 3 decimal places.) Coefficients Intercept X Variable 1 5. Determine how well this regression analysis explains the data. (Round you regression statistics to three decimal places and your percentage answer to the nearest whole number.) Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations From the regression output, number of bottles % explains about ed of the variability in Garfield's total cost. 6. Using the regression output, create a linear cost equation (y = a + bx) for estimating Garfield's operating costs. (Round your answers to 3 decimal places.) Total Cost 3-sous (Number of Bottles) Coel Garfield Company manufactures a popular brand of dog repellant known as DogGone It, which it sells in gallon-size bottles with a spray attachment. The majority of Garfield's business comes from orders placed by homeowners who are trying to keep neighborhood dogs out of their yards. Garfield's operating information for the first six months of the year follows: Number of Operating Bottles Month Sold Cost January 1,040 $10,740 February1,370 15,770 March 1,720 16,100 April 2,400 19,870 May 3,400 27,280 June 3,620 34,900 Required: 3. Using the high-low method, calculate Garfield's total fixed operating costs and variable operating cost per bottle. (Do not round your intermediate calculations. Round your variable cost per unit answer to 2 decimal places and fixed cost answer to the nearest whole number.) GA Variable Cost per Unit Fixed Cost 9.36 4. Perform a least-squares regression analysis on Garfield's data. (Use Microsoft Excel or a statistical package to find the coefficients using least squares regression. Round your answers to 3 decimal places.) Coefficients Intercept X Variable 1 5. Determine how well this regression analysis explains the data. (Round you regression statistics to three decimal places and your percentage answer to the nearest whole number.) Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations From the regression output, number of bottles % explains about ed of the variability in Garfield's total cost. 6. Using the regression output, create a linear cost equation (y = a + bx) for estimating Garfield's operating costs. (Round your answers to 3 decimal places.) Total Cost 3-sous (Number of Bottles) Coel
