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 Month Bottles Sold Cost January 1,060 $10,770 February 1,460 15.670 March 15,920 April 19,540 May 3,420 27,820 Sune 3,000 34,820 2,420 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.) Variable Cost per una Fored Cost 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 number of bottles explains about of the variability in Garfield's total cost 6. Using the regression output, create a linear cost equation Ya+bfor estimating Garfield's operating costs. (Round your answers Garfield Company manufactures a popular brand of dog repellant known as Dog Gone It, which it sells in galon-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 Month Bottles Sold Cost January 1,660 $ 10,770 February 1,460 15,670 March 1,850 15,920 April 2,420 19,540 May 3,420 27,820 June 3,800 34,620 Required: 3. Using the high-low method, calculate Garfield's total foed 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 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 uber of bottles explains about
