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Appendix; Least squares regression Wyoming Wholesale has gathered the following data on the number of shipments received and the cost of receiving reports for the first seven weeks of the year. Number of Shipments Received Weekly Cost of Receiving Reports $245 227 216 199 259 280 283 Note: When answering the following questions, round your answers to two decimal places. 70 62 56 49 74 81 84 a. Using the least squares method, develop the equation for predicting weekly receiving report costs based on the number of shipments received. y = $ 76.71 *+$2.46 (# of shipments) b. What is the predicted amount of receiving report costs for a month (assume a month is exactly four weeks) in which 231 shipments are received? $ 645.49 x

Appendix; Least squares regression Wyoming Wholesale has gathered the following data on the number of shipments received and the cost of receiving reports for the first seven weeks of the year. Number of Shipments Received Weekly Cost of Receiving Reports $245 227 216 199 259 280 283 Note: When answering the following questions, round your answers to two decimal places. 70 62 56 49 74 81 84 a. Using the least squares method, develop the equation for predicting weekly receiving report costs based on the number of shipments received. y = $ 76.71 *+$2.46 (# of shipments) b. What is the predicted amount of receiving report costs for a month (assume a month is exactly four weeks) in which 231 shipments are received? $ 645.49 x

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 8PB: The following select financial statement information from Vortex Computing. Compute the accounts...
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Appendix; Least squares regression Wyoming Wholesale has gathered the following data on the number of shipments received and the cost of receiving reports for the first seven weeks of the year. Number of Shipments Received Weekly Cost of Receiving Reports $245 227 216 199 259 280 283 Note: When answering the following questions, round your answers to two decimal places. 70 62 56 49 74 81 84 a. Using the least squares method, develop the equation for predicting weekly receiving report costs based on the number of shipments received. y = $ 76.71 *+$2.46 (# of shipments) b. What is the predicted amount of receiving report costs for a month (assume a month is exactly four weeks) in which 231 shipments are received? $ 645.49 X
Transcribed Image Text:Appendix; Least squares regression Wyoming Wholesale has gathered the following data on the number of shipments received and the cost of receiving reports for the first seven weeks of the year. Number of Shipments Received Weekly Cost of Receiving Reports $245 227 216 199 259 280 283 Note: When answering the following questions, round your answers to two decimal places. 70 62 56 49 74 81 84 a. Using the least squares method, develop the equation for predicting weekly receiving report costs based on the number of shipments received. y = $ 76.71 *+$2.46 (# of shipments) b. What is the predicted amount of receiving report costs for a month (assume a month is exactly four weeks) in which 231 shipments are received? $ 645.49 X
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