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Inspection costs at one of Ratulowski Corporation's factories are listed below: Units Produced Inspection Costs April 906 $ 16,312 May 951 $ 16,700 June 912

Inspection costs at one of Ratulowski Corporation's factories are listed below:

Units Produced

Inspection Costs

April

906

$

16,312

May

951

$

16,700

June

912

$

16,365

July

896

$

16,210

August

918

$

16,394

September

903

$

16,280

October

920

$

16,432

November

860

$

15,850

December

899

$

16,238

Management believes that inspection cost is a mixed cost that depends on units produced.

The excel least squares regression output is as follows:image text in transcribed

Using the output above identify the following:

What is the measure of goodness of fit? (round to 2 decimal place)

What is the variable cost per unit based on the regression equation? (round to 2 decimal place)

$

What is the fixed cost portion of Inspection Costs? (round to 2 decimal place)

$

Cost equation for Inspection Costs (in the linear equation format)

Y=

Estimated Inspection costs when 973 units are produced (round to nearest whole dollar)

$

SUMMARY OUTPUT Regression Statistics Multiple R 0.99826 R Square 0.99652 Adjusted 0.99603 Standard 14.1791 Observati 9 ANOVA df AS gnificance F Regressior Residual Total 1 403337 403337 2006.197.2E-10O 7 1407.32 201.046 8 404744 P-value Intercept 7870.17 188.46641.7591 1.2E-09 7424.528315.82 7424.52 8315.82 X Variable 9.30183 0.20767 44.7905 7.2E-108.81076 9.7929 8.81076 9.7929 Coefficientandard Err t Stat Lower 95%Upper 95%ower 95OSpper 95.0%

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