Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Show work please Leslie Sporting Goods is a locally owned store that specializes in printing team jerseys. The majority of its business comes from orders
Show work please
Leslie Sporting Goods is a locally owned store that specializes in printing team jerseys. The majority of its business comes from orders for various local teams and organizations. While Leslie's prints everything from bowling team jerseys to fraternity/sorority apparel to special event shirts, summer league baseball and softball team jerseys are the company's biggest source of revenue. A portion of Leslie's operating information for the company's last year follows: Number of Jerseys Operating Month Printed Cost January 175 $4,825 February 200 5,865 March 190 5,670 April 565 8,600 May 650 9,225 June 675 9,800 July 415 6,260 August 310 6,015 September 335 6,150 October 240 5,980 November 235 5,945 December 180 4,940 Required: 3. Using the high-low method, calculate the store's total fixed operating costs and variable operating cost per jersey. (Do not round your intermediate calculations. Round your "Variable Cost" answer to 2 decimal places and "Fixed Cost" answer to the nearest whole number.) Variable Cost per Jersey Fixed Cost 4. Using the high-low method results, calculate the store's expected operating cost if it printed 450 jerseys. (Do not round your intermediate calculations. Round your answer to the nearest whole number.) Total Cost 5. Perform a least-squares regression analysis on Leslie's data. (Use Microsoft Excel or a statistical package to find the coefficients using least-squares regression. Round your answers to 2 decimal places.) Coefficients Intercept X Variable 1 6. Using the regression output, create a linear equation ly = a + bx) for estimating Leslie's operating costs. (Round your answers to 2 decimal places.) Total Cost = (Number of Jerseys) 7. Using the least-squares regression results, calculate the store's expected operating cost if it prints 645 jerseys. (Round your intermediate calculations to 2 decimal places. Round your final answer to 2 decimal places.) Total Cost Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started