Question
PLEASE HELP Part 2 : Glen Mills Company is interested in establishing the relationship between utility costs and machine hours. Data has been collected and
PLEASE HELP
Part 2: Glen Mills Company is interested in establishing the relationship between utility costs and machine hours. Data has been collected and a regression analysis prepared using Excel. The monthly data and the regression output follow:
Required: a. Using Excel, perform a regression analysis on the above data and generate a summary output. (Follow the instructions in your text book in Chapter 5). b. What is the equation for utility costs using the regression analysis?
c. Prepare an estimate of utility costs for a month when 3,000 machine hours are worked.
Part 2: Glen Mills Company is interested in establishing the relationship between utility costs and machine hours. Data has been collected and a regression analysis prepared using Excel. The monthly data and the regression output follow: Required: a. Using Excel, perform a regression analysis on the above data and generate a summary output. (Follow the instructions in your text book in Chapter 5). b. What is the equation for utility costs using the regression analysis? c. Prepare an estimate of utility costs for a month when 3,000 machine hours are workedStep by Step Solution
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