Question
Newport, Inc. used Excel to run a least-squares regression analysis, which resulted in the following output: Regression Statistics Multiple R 0.7232 R Square 0.8507 Observations
Newport, Inc. used Excel to run a least-squares regression analysis, which resulted in the following output:
Regression Statistics | |
Multiple R | 0.7232 |
R Square | 0.8507 |
Observations | 30 |
Coefficients | Standard Error | T Stat | P-Value | |
Intercept | 45,000 | 3,624 | 2.86 | 0.021 |
Production (X) | 5.78 | 0.4641 | 14.59 | 0.000 |
a. What is Newports total fixed cost?
Total fixed cost
b. What is Newports variable cost per unit? (Round your intermediate calculations to 2 decimal places.)
variable cost
c. What total cost would Newport predict for a month in which they sold 5,000 units?
total cost
d. What proportion of variation in Newports cost is explained by variation in production? (Round your intermediate calculations to 2 decimal places.)
proportion of variation
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