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Sandys Socks makes the worlds best socks. Sandy performed a least-squares regression of the information for the last eight months and obtained the following results.
Sandys Socks makes the worlds best socks. Sandy performed a least-squares regression of the information for the last eight months and obtained the following results.
Month | Number of Socks Produced | Total Cost | |
January | 6,750 | 7,500 | |
February | 2,800 | 3,900 | |
March | 3,250 | 4,200 | |
April | 4,250 | 5,050 | |
May | 7,800 | 8,150 | |
June | 3,700 | 4,450 | |
July | 6,150 | 6,900 | |
August | 6,800 | 7,520 | |
Sandy performed a least-squares regression and obtained the following results.
Coefficients Intercept 1,255.09 X Variable 1 0.91
Suppose that Sandys expects to sell 3,300 socks during the month of September and that each sock sells for $3.00. Complete Sandys contribution margin income statement for the month of September. (Round your answers to 2 decimal places.)
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