Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION 17 Use the following information to answer questions *17-19: Florida, Inc. used Excel to run a least-squares regression analysis, which resulted in the following

image text in transcribed
QUESTION 17 Use the following information to answer questions *17-19: Florida, Inc. used Excel to run a least-squares regression analysis, which resulted in the following output: Regression Statistics Multiple R R Square 0.8576 Observations 25 0.8814 Intercept Production () Coefficients 84,555 25.09 Standard Error 11,124 1.212 T Stat 2.86 12.92 P-Value 0.02 0 What is Florida's variable cost per unit? a $1.21 Ob. $25.09 O . $2.86 Od $12.92 QUESTION 18 Based on the information provided in question #17 above, how much of the variation in Florida Inc.'s total manufacturing cost is explained by production? O..8814 b. 8578 O c. 88.14% O d. 85.76% QUESTION 19 Given the information provided in question 917 above, what total manufacturing cost would Florida, Inc. predict for a month in which production is 2,500 units? O a $108,724 b. 5116,855 c. $87,585 d. $147.280

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

The Fundamental Principles Of Finance

Authors: Robert Irons

1st Edition

1138477524, 9781138477520

More Books

Students also viewed these Accounting questions

Question

Do I really need this item?

Answered: 1 week ago