Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Newport, Incorporated, used Excel to run a least-squares regression analysis, which resulted in the following output Regression Statistics Multiple R R Square Observations 0.7225

Newport, Incorporated, used Excel to run a least-squares regression analysis, which resulted in the following output Regression Statistics Multiple R R Square Observations 0.7225 0.8500 30 5 Intercept Production (X) Required: Coefficients 31,000 Standard Error 3,493 T Stat P-Value 2.86 0.021 5.87 0.4640 14.30 0.000 a. What is Newport's total fixed cost? b. What is Newport's variable cost per unit? Round your answer to 2 decimal places. c. What total cost would Newport predict for a month in which they sold 5,000 units? d. What proportion of variation in Newport's cost is explained by variation in production? Note: Round your intermediate calculations to 2 decimal places. a. Total Fixed Cost b. Variable Costs c. Total Costs d. Proportion of Variation per unit %

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

Recommended Textbook for

Basic Technical Mathematics

Authors: Allyn J. Washington, Richard Evans

12th Edition

0137529899, 9780137529896

More Books

Students also viewed these Accounting questions

Question

Draw the given angles in standard position. 60,120,90

Answered: 1 week ago