Mathematics, 10.03.2020 07:37 gatorlove00

An important application of regression analysis in accounting is in the estimation of cost. By collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, an accountant can estimate the cost associated with a particular manufacturing operation. Consider the following sample of production volumes and total cost data for a manufacturing operation.

Production Volume Total Cost
(Units) ($)
400 4,000
450 5,000
550 5,400
600 5,900
700 6,400
750 7,000

Use the data to develop an estimated regression equation that could be used to predict the total cost for a given production volume.

what is the variable cost per unit produced

compute the coefficient of determination what percentage of the variation in total cost can be explained by production volume

the companys production schedule shows 500 units must be produced next month what is the estimated total cost of this operation.

Answers: 2

Show answers

Another question on Mathematics

Mathematics, 21.06.2019 13:00

∆abc is reflected across the x-axis and translated 2 units up to give the image ∆a'b'c' with coordinates a'(1, 1), b'(2, -1), c'(2, 1). what are the coordinates of the preimage ∆abc? a. a(-1, 1), b(-2, 3), c(-2, 1) b. a(1, 1), b(2, 3), c(2, 1) c. a(1, -3), b(2, -1), c(2, -3) d. a(1, -3), b(2, -5), c(2, -3)

Answers: 2

Answer

Mathematics, 21.06.2019 23:30

The product of sin 30 degrees and sin 60 degrees is same as the product of

Answers: 1

Answer

Mathematics, 22.06.2019 01:30

Sara is flying a kite at the park. the angle of elevation from sara to kite in the sky is 53° and the length of the string is 32 feet. of sara is 5 feet tall how far off the ground is the kite

Answers: 1

Answer

Mathematics, 22.06.2019 02:30

In the next 10 month,colin wants to save $900 for his vacation.he plans to save $75 each of the first 8 months. how much must he save each of the last 2 months in order to meet his goal if he saves the same amount each month ?

Answers: 1

Answer

You know the right answer?

An important application of regression analysis in accounting is in the estimation of cost. By colle...

Questions