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The College of Business at Northeast College is accumulating data as a first step in the preparation of next year's budget development. One cost
The College of Business at Northeast College is accumulating data as a first step in the preparation of next year's budget development. One cost that is being looked at closely is administrative costs as a function of student credit hours. Data on administrative costs and credit hours for the past thirteen months are shown below: Administrative Credit Month July August September Costs Hours $ 129,851 800 83,053 401 225,910 1,678 October 216,614 1,286 November 258,373 1,595 December 184,999 1,398 January 219,577 1,625 February 245,330 1,659 March 209,682 1,350 April 192,035 1,409 May 250,528 1,646 June 170,858 706 July Total Average 128,497 601 $2,515,307 $ 193,485 16,154 1,243 The controller's office has analyzed the data and has given you the results from the regression analysis: SUMMARY OUTPUT Regression Statistics Multiple R 0.9282404 R Square 0.861630219 Adjusted R Square 0.849051148 Standard Error 20,600.11443 Observations 13 ANOVA df Regression Residual Total SS MS F Significance F -68.4971268 4.72304E-06 1 29,067,763,647 29,067,763,647 11 4,668,011,858 424,364,714.4 12 33,735,775,506
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