Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Newport, Inc., used Excel to run a least squares regression analysis, which resulted in the following output Regression Statistics Multiple R 0.7224 R Square 0.8499

image text in transcribed
image text in transcribed
Newport, Inc., used Excel to run a least squares regression analysis, which resulted in the following output Regression Statistics Multiple R 0.7224 R Square 0.8499 Observations 30 Intercept Production (X) Coefficients 36,000 5.62 Standard Error 3,663 0.4684 T Stat 2.84 14.63 P-value 0.021 0.000 a. What is Newport's total fixed cost? Total Fored Cost b. What is Newport's variable cost per unit? (Round your intermediate calculations to 2 decimal places.) Variable Cost per unit c. What total cost would Newport predict for a month in which they sold 5,000 units? Total Costs d. What proportion of variation in Newport's cost is explained by variation in production? (Round your intermediate calculations to 2 decimal places.) Propition of Vacation %

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

More Books

Students also viewed these Accounting questions

Question

What is human nature?

Answered: 1 week ago