Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Plantcity is a large nursery and retail store specializing in house and garden plants and supplies. Jean Raouth, the assistant manager, is in the



image

Plantcity is a large nursery and retail store specializing in house and garden plants and supplies. Jean Raouth, the assistant manager, is in the process of budgeting monthly supplies expense for 2019. She assumes that in some way supplies expense is related to sales, either in units or in dollars. She has collected these data for sales and supplies expenses for June 2016 through December 2018, and has estimated sales for 2019. 1.Develop the regression that Jean should use based on the data and evaluate the reliability and precision of the regression you have chosen. 2.What are the predicted monthly figures for supplies expense for 2019? + Date Supplies Expense Sales (Units) Sales (Dollars) June-16 $2,745 354 $20,090 July-16 3,200 436 $21,900 August-16 3,232 525 $28,780 September-16 2,199 145 $18,560 October-16 2,321 199 $21,680 November-16 3,432 543 $21,520 December-16 4,278 1,189 $24,630 January-17 2,310 212 $19,990 February-17 2,573 284 $21,900 March-17 2,487 246 $18,940 April-17 2,484 278 $21,340 May-17 3,384 498 $32,100 June-17 2,945 424 $28,500 July-17 2,758 312 $22,650 August-17 3,394 486 $24,350 September-17 2,254 188 $18,930 October-17 2,763 276 $22,320 November-17 3,245 489 $30,040 December-17 4,576 1,045 $33,090 January-18 2,103 104 $21,950 February-18 2,056 167 $20,450 March-18 3,874 298 $23,010 April-18 2,784 398 $23,450 May-18 2,345 187 $18,150 June-18 2,912 334 $20,940 July-18 2,093 264 $19,340 August-18 2,873 333 $20,540 September-18 2,563 143 $19,770 October-18 2,384 245 $18,570 November-18 2,476 232 $21,890 December-18 3,364 1,122 $34,330 January-19 180 $16,000 February-19 230 $20,000 March-19 190 $19,000 April-19 450 $24,000 May-19 350 $23,000 June-19 July-19 350 $23,000 450 $25,000 August-19 550 $30,000 September 19 300 $25,000 October 19 300 $25,000 November-19 450 $32,000 December-19 950 $39,000

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

Cost Management A Strategic Emphasis

Authors: Edward Blocher, David Stout, Paul Juras, Gary Cokins

7th edition

77733770, 978-0077733773

More Books

Students also viewed these Accounting questions

Question

=+b Calculate the cost of equity finance.

Answered: 1 week ago