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Multiple regression results from the data of Adriana Corporation are as follows: Equation: Overhead = $24,046 + ($32.70 Labor-hours) + ($41.40 Machine-hours) Statistical data Correlation
Multiple regression results from the data of Adriana Corporation are as follows: |
Equation: | |
Overhead = $24,046 + ($32.70 Labor-hours) + ($41.40 Machine-hours) | |
Statistical data | |
Correlation coefficient | .979 |
R2 | .958 |
Required: |
Estimate overhead using the multiple regression results, assuming that the company expects the plant to operate at a monthly average of 9,130 machine-hours and 3,110 labor-hours next year. (Omit the "$" sign in your response.) |
Overhead | $ |
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