Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following excel printout provides information to estimate overhead costs using linear regression. Coefficient Standard-Error-Stat P-Value Lower 95% Upper 95% Intercept 6035.99 1411.05 4.280.003 2782.09
The following excel printout provides information to estimate overhead costs using linear regression.
Coefficient Standard-Error-Stat P-Value Lower 95% Upper 95%
Intercept 6035.99 1411.05 4.280.003 2782.09 9289.89
DLH 4.56 1.61 2.83 0.022 0.85 8.27
#Setups771.154.93 14.03 6.44e-07 644.42 897.78
# Moves 29.94 2.87 10.42 6.26E-06 23.31 36.57
Regression Statistics
Multiple R 0.9966
R-Square 0.9932
Adjusted R-Square 0.9906
Standard Error 347.96
Observations 12
The estimated fixed cost would be?
a) 771.10
b) 29.94
c) 4.56
d) 6,035.99
Please explain.
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