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VERY URGENT PLEASE HELP Question list Molly Stone is the new manager of the materials storeroom for Parr Manufacturing. Molly has been asked to estimate
VERY URGENT PLEASE HELP Question list Molly Stone is the new manager of the materials storeroom for Parr Manufacturing. Molly has been asked to estimate future monthly purchase costs for part # used in two of Parr's products. Molly has purchase cost and quantity data for the past months as follows: Click the icon to view the data for the past months. Estimated monthly purchases for this part based on expected demand of the two products for the rest of the year are as follows: Question Click the icon to view the expected demand for the rest of the year. Read the requirements. Question Requirement The computer in Molly's office is down, and Molly has been asked to immediately provide an equation to estimate the future purchase cost for part # Molly grabs a calculator and uses the highlow method to estimate a cost equation. What equation does she get? Purchase costs Requirement Using the equation from requirement calculate the future expected purchase costs for each of the last months of the year. HighLow Method Data table ta table Requirements The computer in Molly's office is down, and Molly has been asked to immediately provide an equation to estimate the future purchase cost for part # Molly grabs a calculator and uses the highlow method to estimate a cost equation. What equation does she get? Using the equation from requirement calculate the future expected purchase costs for each of the last months of the year. After a few hours Molly's computer is fixed. Molly uses the first months of data and regression analysis to estimate the relationship between the quantity purchased and purchase costs of part # The regression line Molly obtains is as follows: $ Evaluate the regression line using the criteria of economic plausibility, goodness of fit, and significance of the independent variable. Compare the regression equation to the equation based on the highlow method. Which is a better fit? Why? Use the regression results to calculate the expected purchase costs for October, November, and December. Compare the expected purchase costs to the expected purchase costs calculated using the highlow method in requirement Comment on your results.
VERY URGENT PLEASE HELP
Question list
Molly Stone is the new manager of the materials storeroom for Parr Manufacturing. Molly has been asked to estimate future monthly purchase costs for part # used in two of Parr's
products. Molly has purchase cost and quantity data for the past months as follows:
Click the icon to view the data for the past months.
Estimated monthly purchases for this part based on expected demand of the two products for the rest of the year are as follows:
Question
Click the icon to view the expected demand for the rest of the year.
Read the requirements.
Question
Requirement The computer in Molly's office is down, and Molly has been asked to immediately provide an equation to estimate the future purchase cost for part # Molly grabs a
calculator and uses the highlow method to estimate a cost equation. What equation does she get?
Purchase costs
Requirement Using the equation from requirement calculate the future expected purchase costs for each of the last months of the year.
HighLow Method
Data table
ta table
Requirements
The computer in Molly's office is down, and Molly has been asked to
immediately provide an equation to estimate the future purchase cost for
part # Molly grabs a calculator and uses the highlow method to estimate
a cost equation. What equation does she get?
Using the equation from requirement calculate the future expected
purchase costs for each of the last months of the year.
After a few hours Molly's computer is fixed. Molly uses the first months of
data and regression analysis to estimate the relationship between the quantity
purchased and purchase costs of part # The regression line Molly obtains
is as follows:
$
Evaluate the regression line using the criteria of economic plausibility,
goodness of fit, and significance of the independent variable. Compare the
regression equation to the equation based on the highlow method. Which is a
better fit? Why?
Use the regression results to calculate the expected purchase costs
for October, November, and December. Compare the expected purchase
costs to the expected purchase costs calculated using the highlow method in
requirement Comment on your results.
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