subject
Mathematics, 12.03.2021 17:40 sassyparker1216

Burmer Co. has accumulated data to use in preparing its annual profit plan for the upcoming year. The cost behavior pattern of the maintenance costs must be determined. Data regarding the machine hours and maintenance costs for the last year and the results of the regression analysis are as follows: Month Maintenance Cost Machine Hours Jan. $ 5,040 620 Feb. 3,600 420 Mar. 4,320 520 Apr. 3,380 390 May 5,220 650 June 3,550 400 July 3,640 430 Aug. 5,360 680 Sept. 5,110 640 Oct. 4,860 610 Nov. 3,960 460 Dec. 3,790 440 Sum $ 51,830 6,260 Average $ 4,319 522 A staff assistant has run regression analyses on the data and obtained the following output using Excel: REGRESSION ANALYSIS Y (Dependent) Variable: Maintenance Cost X (Independent) Variable: Maintenance Hours Regression Statistics Multiple R 0.998210294 R Square 0.996423791 Adjusted R Square 0.99606617 Standard Error 47.0629563 Observations 12 ANOVA df SS MS F Significance F Regression 1 6171342.448 6171342 2786.257 1.44166E-13 Residual 10 22149.21856 2214.922 Total 11 6193491.667 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept 783.7782188 68.34114772 11.46861 4.47E-07 631.504653 936.051785 Hours 6.777102456 0.12839066 52.78501 1.44E-13 6.491030239 7.06317467 Using regression analysis, what is the estimated maintenance expense for a month that the firm expects to operate 600 machine hours (round to nearest whole dollar)

ansver
Answers: 3

Other questions on the subject: Mathematics

image
Mathematics, 21.06.2019 15:30, anazia10
What is the value of x? enter your answer in the box. photo attached.
Answers: 2
image
Mathematics, 21.06.2019 17:00, cjd1214812148
The rectangle on the right is the image of the rectangle on the left. what transformation would result in this image? reflection rotation translation dilation
Answers: 2
image
Mathematics, 21.06.2019 17:00, alex43079
Asocial networking site currently has 400,000 active members, and that figure is predicted to increase by 32% each year. the following expression represents the number of active members on the site after t years.
Answers: 1
image
Mathematics, 21.06.2019 18:00, justijust500
Ijust need to see how to do this. so you don’t have to answer all of them just a step by step explanation of one.
Answers: 3
You know the right answer?
Burmer Co. has accumulated data to use in preparing its annual profit plan for the upcoming year. Th...

Questions in other subjects:

Konu
Mathematics, 11.03.2021 20:00
Konu
Mathematics, 11.03.2021 20:00
Konu
Mathematics, 11.03.2021 20:00