Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please note, for questions (b) the shipping expense is NOT $3200, and for (c), the answer is NOT $8000 which is shown below with the

Please note, for questions (b) the shipping expense is NOT $3200, and for (c), the answer is NOT $8000 which is shown below with the RED "x". I am looking for those two answers.

image text in transcribed

QUESTION 6 Partially correct Mark 3.57 out of 5.00 F Flag question Selecting a Basis for Predicting Shipping Expenses (Requires Computer Spreadsheet*) Boom Company assembles and sells portable speaker systems in the midwest. In an effort to improve the planning and control of shipping expenses, management is trying to determine which of three variables-units shipped, weight shipped, or sales value of units shipped-has the closest relationship with shipping expenses. The following information is available: Weight Sales Value of Shipping Units Shipped Shipped (lbs.) Units Shipped Expenses 5200,000 8.960 220,000 12.320 160,000 10,400 228,000 16,640 280,000 13.760 320,000 13.120 Month May June 6,000 10,000 8,000 14.000 12.000 9,000 9.300 12.000 12,150 15,000 10,500 12,000 August September October Required a. With the aid of a spreadsheet program, determine whether units shipped, weight shipped, or sales value of units shipped has the closest relationship with shipping expenses Complete the r-squared values between each possible independent variable and shipping expenses: Round answers to two decimal places Units shipped 0.92 Weight shipped 0.59 Sale value 0.23 Based on the coefficient of determination, units shipped has the closest relationship with shipping expenses. b. Using the independent variable that appears to have the closest relationship to shipping expenses, develop a cost-estimating equation for total monthly shipping expenses. Round answers to two decimal places Shipping expenses 3.200 X 0.9 X c. Use the equation developed in requirement (b) to predict total shipping expenses in a month when 5,000 units, weighing 7,000 Ibs., with a total sales value of $114,000 are shipped Round answers to two decimal places 8,000 Check

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

Environmental Health And Safety Audits

Authors: Lawrence B. Cahill

8th Edition

0865878250, 978-0865878259

More Books

Students also viewed these Accounting questions

Question

please help will upvote if correct, answer all parts

Answered: 1 week ago