Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Valle Crucis Corporation wanted to determine the relationship between its monthly operating costs and a potential cost driver, machine hours. The output of a regression

image text in transcribed

Valle Crucis Corporation wanted to determine the relationship between its monthly operating costs and a potential cost driver, machine hours. The output of a regression analysis showed the following information (note: only a portion of the regression analysis results is presented here): SUMMARY OUTPUT Regression Statistics Multiple R 0.991108748 R Square 0.982296551 Adjusted R Square 0.977870689 Standard Error 67.58593536 Observations ANOVA df Significance F 0.00011823 Regression Residual Total SS MS F 1013811.8991013811.899 221.9446735 18271.43463 4567.858659 1032083.333 1 4 5 Intercept X Variable 1 Coefficients 2945.94652 0.718590832 Standard Error Stat P-value 194.105844 15.17701095 0.000109885 0.04823467 14.89780767 0.00011823 Lower 95% 2407.022299 0.584669919 What is the cost equation based upon the results of the regression analysis? O y = $072x O y = $2,945.95x + $0.72 O y = $0.72x + $2,945.95 O y = $2,945.95 + $0.72

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Retirement Income Recipes In R From Ruin Probabilities To Intelligent Drawdowns

Authors: Moshe Arye Milevsky

1st Edition

3030514331, 9783030514334

More Books

Students also viewed these Accounting questions

Question

What is a business report? Why is it needed?

Answered: 1 week ago

Question

Explain the principles of delegation

Answered: 1 week ago

Question

State the importance of motivation

Answered: 1 week ago

Question

Discuss the various steps involved in the process of planning

Answered: 1 week ago

Question

What are the challenges associated with tunneling in urban areas?

Answered: 1 week ago

Question

What are the main differences between rigid and flexible pavements?

Answered: 1 week ago