Question
The following excerpts from four regression analysis reports describe the relationship between a major operating cost and four cost drivers for Tory Corp. Regression Statistics
The following excerpts from four regression analysis reports describe the relationship between a major operating cost and four cost drivers for Tory Corp.
Regression Statistics |
|
| Regression Statistics |
R-Sq. | 0.228 |
|
| R-Sq. | 0.337 |
Std. Error | 36.627 |
|
| Std. Error | 25.519 |
Observations | 12 |
|
| Observations | 12 |
|
|
|
|
|
|
| Coefficients |
|
|
| Coefficients |
Intercept | 1537.416 |
|
| Intercept | 1926.908 |
Labor Hrs | 80.576 |
|
| Machine Hrs | 69.123 |
|
|
|
|
|
|
Regression Statistics |
|
| Regression Statistics |
R-Sq. | 0.665 |
|
| R-Sq. | 0.774 |
Std. Error | 42.407 |
|
| Std. Error | 30.353 |
Observations | 12 |
|
| Observations | 12 |
|
|
|
|
|
|
| Coefficients |
|
|
| Coefficients |
Intercept | 1323.323 |
|
| Intercept | 1700.657 |
Kilowatt Hrs | 46.822 |
|
| Customer Visits | 23.409 |
|
|
|
|
|
|
. Which cost driver is the best predictor of the operating cost?
Labor hours | ||
Machine hours | ||
Kilowatt hours | ||
Customer visits |
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