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 0.7225 R Square 0.8500 Observations

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 0.7225 R Square 0.8500 Observations 30 Intercept Production (x) Coefficients 31,000 5.87 Standard Error 3,493 0.4640 T Stat 2.86 14.30 P-Value 0.021 0.000 a. What is Newport's total fixed cost? Total Fixed 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.) Proportion of Variation %

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

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

I am paid fairly for the work I do.

Answered: 1 week ago

Question

I receive the training I need to do my job well.

Answered: 1 week ago