Camp Rainbow offers overnight summer camp programs for children ages 10 to 14 every summer during June and July. Each camp session is one week and can accommodate up to 200 children. The camp is not coed, so boys attend during the odd-numbered weeks and girls attend during the even-numbered weeks. While at the camp, participants make crafts, participate in various sports, help care for the camp's resident animals, have cookouts and hayrides, and help assemble toys for local underprivileged children. The camp provides all food as well as materials for all craft classes and the toys to be assembled. One cabin can accommodate up to 10 children, and one camp counselor is assigned to each cabin. Three camp managers are on-site regardless of the number of campers enrolled. Following is the cost information for Camp Rainbow's operations last summer: Week Campers 116 138 154 98 102 134 122 108 12345678 Number of Cost to Run Camp $9,330 11,300 12,200 8,000 8,530 10,390 9,830 8,950 E5-14 (Algo) Estimating Cost Behavior Using Least-Squares Regression [LO 5-4] Required: 1. Perform a least-squares regression analysis on Camp Rainbow's data. 2. Using the regression output, create a cost equation (y = a + bx) for estimating Camp Rainbow's operating costs. 3. Using the least-squares regression results, calculate the camp's expected operating cost if 122 children attend a session. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Total Cost Using the least-squares regression results, calculate the camp's expected operating cost if 122 children attend a session. Note: Round your intermediate calculations and final answer to 2 decimal places. < Required 2 Required 3 >
Camp Rainbow offers overnight summer camp programs for children ages 10 to 14 every summer during June and July. Each camp session is one week and can accommodate up to 200 children. The camp is not coed, so boys attend during the odd-numbered weeks and girls attend during the even-numbered weeks. While at the camp, participants make crafts, participate in various sports, help care for the camp's resident animals, have cookouts and hayrides, and help assemble toys for local underprivileged children. The camp provides all food as well as materials for all craft classes and the toys to be assembled. One cabin can accommodate up to 10 children, and one camp counselor is assigned to each cabin. Three camp managers are on-site regardless of the number of campers enrolled. Following is the cost information for Camp Rainbow's operations last summer: Week Campers 116 138 154 98 102 134 122 108 12345678 Number of Cost to Run Camp $9,330 11,300 12,200 8,000 8,530 10,390 9,830 8,950 E5-14 (Algo) Estimating Cost Behavior Using Least-Squares Regression [LO 5-4] Required: 1. Perform a least-squares regression analysis on Camp Rainbow's data. 2. Using the regression output, create a cost equation (y = a + bx) for estimating Camp Rainbow's operating costs. 3. Using the least-squares regression results, calculate the camp's expected operating cost if 122 children attend a session. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Total Cost Using the least-squares regression results, calculate the camp's expected operating cost if 122 children attend a session. Note: Round your intermediate calculations and final answer to 2 decimal places. < Required 2 Required 3 >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Camp Rainbow offers overnight summer camp programs for children ages 10 to 14 every summer during June and July.
Each camp session is one week and can accommodate up to 200 children. The camp is not coed, so boys attend during
the odd-numbered weeks and girls attend during the even-numbered weeks. While at the camp, participants make crafts,
participate in various sports, help care for the camp's resident animals, have cookouts and hayrides, and help assemble
toys for local underprivileged children.
The camp provides all food as well as materials for all craft classes and the toys to be assembled. One cabin can
accommodate up to 10 children, and one camp counselor is assigned to each cabin. Three camp managers are on-site
regardless of the number of campers enrolled.
Following is the cost information for Camp Rainbow's operations last summer:
Week Campers
116
138
154
98
102
134
122
108
12345678
Number of Cost to Run
Camp
$9,330
11,300
12,200
8,000
8,530
10,390
9,830
8,950
E5-14 (Algo) Estimating Cost Behavior Using Least-Squares Regression [LO 5-4]
Required:
1. Perform a least-squares regression analysis on Camp Rainbow's data.
2. Using the regression output, create a cost equation (y = a + bx) for estimating Camp Rainbow's operating costs.
3. Using the least-squares regression results, calculate the camp's expected operating cost if 122 children attend a session.
Complete this question by entering your answers in the tabs below.
Required 1 Required 2 Required 3
Total Cost
Using the least-squares regression results, calculate the camp's expected operating cost if 122 children attend a session.
Note: Round your intermediate calculations and final answer to 2 decimal places.
< Required 2
Required 3 >](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6fcbf2f7-fbe0-46b9-8e02-bc35402e9645%2F960aa864-2055-4781-b6aa-5cfc7b9b4a16%2F1pnrs8o_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Camp Rainbow offers overnight summer camp programs for children ages 10 to 14 every summer during June and July.
Each camp session is one week and can accommodate up to 200 children. The camp is not coed, so boys attend during
the odd-numbered weeks and girls attend during the even-numbered weeks. While at the camp, participants make crafts,
participate in various sports, help care for the camp's resident animals, have cookouts and hayrides, and help assemble
toys for local underprivileged children.
The camp provides all food as well as materials for all craft classes and the toys to be assembled. One cabin can
accommodate up to 10 children, and one camp counselor is assigned to each cabin. Three camp managers are on-site
regardless of the number of campers enrolled.
Following is the cost information for Camp Rainbow's operations last summer:
Week Campers
116
138
154
98
102
134
122
108
12345678
Number of Cost to Run
Camp
$9,330
11,300
12,200
8,000
8,530
10,390
9,830
8,950
E5-14 (Algo) Estimating Cost Behavior Using Least-Squares Regression [LO 5-4]
Required:
1. Perform a least-squares regression analysis on Camp Rainbow's data.
2. Using the regression output, create a cost equation (y = a + bx) for estimating Camp Rainbow's operating costs.
3. Using the least-squares regression results, calculate the camp's expected operating cost if 122 children attend a session.
Complete this question by entering your answers in the tabs below.
Required 1 Required 2 Required 3
Total Cost
Using the least-squares regression results, calculate the camp's expected operating cost if 122 children attend a session.
Note: Round your intermediate calculations and final answer to 2 decimal places.
< Required 2
Required 3 >
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