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(d) Explain the meaning of F (e) Estimate Indirect Manufacturing Labor Costs(Y) function by using "High Low Method"

(d) Explain the meaning of F (e) Estimate Indirect Manufacturing Labor Costs(Y) function by using "High Low Method"

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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i just want answers of (d) and (e)

Q1. We use the data for Space Mars of cost driver and Indirect Manufacturing Labor Costs. (Data) Indirect Manufacturing Labor Costs(Y) 1,200 cost driver: Machine Hours(X) 68 1. 1,400 2. 67(lowest) 90(highest) 1,180 1,650 8. (Results) SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Śquare 0.965504 0.932198 0.920897 Standard Error 4.097673 Observations 8. ANOVA SS MS Significance F Regression 1385.129 1385.129 82.49274 1. 1E-04 Residual 100.7456 16.79093 9. Total 1485.875 Standard Error Coefficients t Stat P-value -62.0077 14.4556 Intercept X Variable -4.28953 0.005152 0.105775 0.011646 9.082551 1E-04 (a) What is the estimated indirect labor cost based on the regression line when X-75? (b) Evaluate the goodness of fitness of this regression line. (c) Describe the meaning of R2 (d) Explain the meaning of F (e) Estimate Indirect Manufacturing Labor Costs(Y) function by using "High Low Method"
Transcribed Image Text:Q1. We use the data for Space Mars of cost driver and Indirect Manufacturing Labor Costs. (Data) Indirect Manufacturing Labor Costs(Y) 1,200 cost driver: Machine Hours(X) 68 1. 1,400 2. 67(lowest) 90(highest) 1,180 1,650 8. (Results) SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Śquare 0.965504 0.932198 0.920897 Standard Error 4.097673 Observations 8. ANOVA SS MS Significance F Regression 1385.129 1385.129 82.49274 1. 1E-04 Residual 100.7456 16.79093 9. Total 1485.875 Standard Error Coefficients t Stat P-value -62.0077 14.4556 Intercept X Variable -4.28953 0.005152 0.105775 0.011646 9.082551 1E-04 (a) What is the estimated indirect labor cost based on the regression line when X-75? (b) Evaluate the goodness of fitness of this regression line. (c) Describe the meaning of R2 (d) Explain the meaning of F (e) Estimate Indirect Manufacturing Labor Costs(Y) function by using "High Low Method"
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