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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: Month July August Administrative Costs Credit Hours $ 129,701 650 82,933 323 September 225,820 1,600 October 216,554 1,208 November 258,343 1,517 December 184,849 1,320 January 219,457 1,547 February 245,240 1,581 March 209,622 1,272 April 192,005 1,331 May 250,378 1,568 June 170,738 628 July Total Average 128,407 523 $2,514,047 $ 193,388 15,068 1,159 The controller's office has analyzed the data and has given you the results from the regression analysis: SUMMARY OUTPUT Regression Statistics Multiple R R Square 0.9312355 0.867199648 Adjusted R Square 0.855126889 Standard Error 20,186.72528 Observations 13 ANOVA df SS Regression Residual 11 1 29,271,454,138 4,482,542,652 MS 29,271,454,138 407,503,877.5 F -71.8311058 Significance F 3.75776E-06 Total 12 33,753,996,790
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