Question
The management of Lindiwe Accounting Services are concerned about the increase in overtime hours clocked by their senior staff over the past six months of
The management of Lindiwe Accounting Services are concerned about the increase in overtime hours clocked by their senior staff over the past six months of 2022. As the companys cost accountant, they have assigned you the task of coming up with a reliable way to predict overtime hours and costs for senior staff in the next six months of 2022. You have decided to use linear regression to solve the problem. You have also recorded the following monthly figures for the past six months of 2022. Month Overtime hours Total cost (R) January 478 41 000 February 322 32 000 March 405 37 000 April 308 28 200 May 505 43 500 June 308 29 600 Required: Construct a linear regression equation that your company management can use to predict overtime hours in the future (round all answers to two decimals)
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