Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

hello could u explain to me how did u do regression Jayne reminded Ethan that maintenance of the machines is required for the silk-screen process.

hello could u explain to me how did u do regression

image text in transcribed
Jayne reminded Ethan that maintenance of the machines is required for the silk-screen process. In addition, Ethan realizes that he must consider the cost of utilities. The building Ethan wants to rent is roughly the same size as the building occupied by Shirts and More. In addition, Shirts and More sells approximately the same number of shirts Ethan plans to sell in his store. Therefore, Ethan is confident that the maintenance and utility costs for his shop will be comparable to the maintenance and utility costs for Shirts and More as below. Ethan will use the regression method to estimate variable and fixed costs for the purpose of budgeting. Shirts Sold Maintenance Cost Utility Cost January 1,810 $1,630 $1,150 February 2,110 1.720 1,158 March 2,630 1,740 1,161 April 3,250 1,780 1,211 May 5,000 1.912 1,485 June 5,300 1,966 1,502 July 3,920 1,805 1,278 August 2,100 1,725 1,143 September 8,000 2, 120 1,688 October 6,810 2.030 1,630 November 6,020 2,014 1,498 December 8,700 2.240 1,740 (Note: When estimating maintenance and utility costs, input data on a worksheet and use Excel functions to estimate the slope and the intercept. When you budget maintenance and utility costs, you should use formulas linked to the estimates of slope and intercept, and related quantity of shirts, instead of inputting numbers by hand. Use Excel to display the total costs to the whole dollar.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Excel Applications For Accounting Principles

Authors: Gaylord SmithBruce Walz

4th Edition

1133388027, 9781133388029

More Books

Students also viewed these Accounting questions

Question

Keep your head straight on your shoulders

Answered: 1 week ago

Question

Be straight in the back without blowing out the chest

Answered: 1 week ago

Question

Wear as little as possible

Answered: 1 week ago