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Garfield Company manufactures a popular brand of dog repellant known as DogGone It, which it sells in gallon-size bottles w spray attachment. The majority of
Garfield Company manufactures a popular brand of dog repellant known as DogGone It, which it sells in gallon-size bottles w spray attachment. The majority of Garfield's business comes from orders placed by homeowners who are trying to keep neig dogs out of their yards. Garfield's operating information for the first six months of the year follows: Number of Operating Month Bottles So Cost January 1,060 $ 10,420 February 1,360 15 , 600 March 1, 810 16, 050 April 19 , 380 May 27 , 448 June 3, 630 34, 870 Required: 3. Using the high-low method, calculate Garfield's total fixed operating costs and variable operating cost per bottle. 4. Perform a least-squares regression analysis on Garfield's data. 5. Determine how well this regression analysis explains the data. 6. Using the regression output, create a linear cost equation (y = a + bx) for estimating Garfield's operating costs. Complete this question by entering your answers in the tabs below. Required 3 Required 4 Required 5 Required 6 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.) Variable Cost per Unit Fixed Cost 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 Required 3 Required 4 Required 5 Required 6 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 F R Square Adjusted R Square Standard Error Observations From the regression output, of the variability in number of bottles explains about |Garfield's total cost Required 3 Required 4 Required 5 Required 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 = + (Number of Bottles)
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