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5-52. Interpretation of Regression Results Lerner, Inc., is accumulating data to prepare its annual profit plan for the coming year. The behavior pattern of the maintenance costs must be determined. The accounting staff has suggested using regression to derive an equation in the form of y = a + bx for maintenance costs. Monthly data regarding maintenance hours and costs for the preceding year have been entered into the regression analysis. Total hours of maintenance for the year Total costs for the year. Regression results: Intercept b coefficient R² MICH MM a ... 4,800 $ 43,200 $ 684.65 7.29 0.79724

5-52. Interpretation of Regression Results Lerner, Inc., is accumulating data to prepare its annual profit plan for the coming year. The behavior pattern of the maintenance costs must be determined. The accounting staff has suggested using regression to derive an equation in the form of y = a + bx for maintenance costs. Monthly data regarding maintenance hours and costs for the preceding year have been entered into the regression analysis. Total hours of maintenance for the year Total costs for the year. Regression results: Intercept b coefficient R² MICH MM a ... 4,800 $ 43,200 $ 684.65 7.29 0.79724

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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5-5) 5-52. Interpretation of Regression Results Lerner, Inc., is accumulating data to prepare its annual profit plan for the coming year. The behavior pattern of the maintenance costs must be determined. The accounting staff has suggested using regression to derive an equation in the form of y = a + bx for maintenance costs. Monthly data regarding maintenance hours and costs for the preceding year have been entered into the regression analysis. Total hours of maintenance for the year Total costs for the year Regression results: Intercept b coefficient IMIT 4,800 $ 43,200 $ $ 684.65 7.29 0.79724 Required In a regression equation expressed as y = a + bx, how is the letter b best described? How is the letter y in the regression equation best described? How is the letter x in the regression equation best described? d. Based on the data derived from the regression analysis, what are the estimated costs for 360 maintenance hours in a month? What is the percent of the total variance that can be explained by the regression equation? (CMA adapted) Activate W Go to Settings 8°C Mostly cloudy 2006PASE
Transcribed Image Text:5-5) 5-52. Interpretation of Regression Results Lerner, Inc., is accumulating data to prepare its annual profit plan for the coming year. The behavior pattern of the maintenance costs must be determined. The accounting staff has suggested using regression to derive an equation in the form of y = a + bx for maintenance costs. Monthly data regarding maintenance hours and costs for the preceding year have been entered into the regression analysis. Total hours of maintenance for the year Total costs for the year Regression results: Intercept b coefficient IMIT 4,800 $ 43,200 $ $ 684.65 7.29 0.79724 Required In a regression equation expressed as y = a + bx, how is the letter b best described? How is the letter y in the regression equation best described? How is the letter x in the regression equation best described? d. Based on the data derived from the regression analysis, what are the estimated costs for 360 maintenance hours in a month? What is the percent of the total variance that can be explained by the regression equation? (CMA adapted) Activate W Go to Settings 8°C Mostly cloudy 2006PASE
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