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

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ISBN:9781119256830
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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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