Question
Leno Company used regression analysis to predict the annual cost of indirect materials. The results were as follows: Indirect Materials Cost Explained by Units Produced
Leno Company used regression analysis to predict the annual cost of indirect materials. The results were as follows: Indirect Materials Cost Explained by Units Produced Constant 14,885 Standard error of Y estimate 9,960 R-Squared 0.7832 No. of observations 22 Degrees of freedom 20 X Coefficient 11.75 Standard error of coefficient 2.1876 The linear cost function is ________ where Y = Total indirect materials cost and X = Number of units produced.
Question 5 options:
Y = $2.1876 + $9,960X | |
Y= $9,960 + $14,885X | |
Y = $14,885 + 11.75X | |
Y = $11.75 + $14,885X | |
none of the above. |
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