Answered step by step
Verified Expert Solution
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
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): EEB (Click the icon to view the portion of the regression analysis.) What is the cost equation based upon the results of the regression analysis? OA. y $072x Data Table B. y-$0.72x + $2.945 95 O C. y $2,945.95x+S0.7:2 O D. y $2,945.95 $0.72 SUMMARY OUTPUT sion Statistics Multiple R R Square Adjusted R Square Standard Error Observations 0.991108748 0.982296551 0.977870689 67.58593536 ANOVA df MS ance F 013811.899 1013811.899 221.9446735 18271.43463 4567.858659 1032083.333 0.00011823 Residual Total 5 Coefficients Standard Error 2945.94652 0.718590832 t Stat Lower 95% Intercept X Variable1 194.105844 15.17701095 0.000109885 2407.022299 0.04823467 14.89780767 0.00011823 0.584669919
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