hello I was looking to get help with this Davis Stores sells clothing in 15 stores located around the southwestern United States. The managers at Davis areconsidering expanding by opening new stores and are interested in estimating costs in potential new locations. Theybelieve that costs are driven in large part by store volume measured by revenue. The following data were collected fromlast year's operations (revenues and costs In thousands of dollars).StoreRevenuesCosts$4,1002,2275,7383,9822,9144,0236,8941,7795,4163,2283,8864,690101$4,2142,8945,1813,9983,6763,3195,0292,3744,6882,9594,1793, 2002,5564,6552,9861021031041051061071081091101111121133,5524,8172,124114115Simple regression results from the data of Davis Stores are as follows.Equation:Store costs = $1,604.40 + (Revenue x 53.6%)Statistical dataCorrelation coefficient0.835R20.698Requlred:a. Estimate store costs for a store with revenue of $2.5 million.b. What percentage of the variation in store costs is explained by the independent variable?Complete this question by entering your answers in the tabs below.Required ARequired BEstimate store costs for a store with revenue of $2.5 million. (Enter the answer in thousands of dollars. Round your answer to2 decimal places.)Store cost

This is an accounting question in which we have to find the costs based on the regression…

Davis Stores sells clothing in 15 stores located around the southwestern United States. The managers at Davis are considering expanding by opening new stores and are Interested in estimating costs in potential new locations. They believe that costs are driven in large part by store volume measured by revenue. The following data were collected from last year's operations (revenues and costs In thousands of dollars). Costs $4,214 2,894 5,181 3,998 3,676 3,319 5,029 2,374 4,688 2,959 4,179 3,200 2,556 4,655 Store Revenues $4, 100 2,227 5,738 3,982 2,914 4,023 6,894 1,779 5,416 3,228 3,886 4,690 3,552 4,817 101 102 103 104 105 106 107 108 109 110 111 112 113 114

Davis Stores sells clothing in 15 stores located around the southwestern United States. The managers at Davis are considering expanding by opening new stores and are Interested in estimating costs in potential new locations. They believe that costs are driven in large part by store volume measured by revenue. The following data were collected from last year's operations (revenues and costs In thousands of dollars). Costs $4,214 2,894 5,181 3,998 3,676 3,319 5,029 2,374 4,688 2,959 4,179 3,200 2,556 4,655 Store Revenues $4, 100 2,227 5,738 3,982 2,914 4,023 6,894 1,779 5,416 3,228 3,886 4,690 3,552 4,817 101 102 103 104 105 106 107 108 109 110 111 112 113 114

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Give me a conclusion paragraph about the impact of AI in Accounting
Ma1 . Who benefits most from Peace of Mind®? Complex return filers. EITC filers. Clients with refunds. All clients.
how do you write a check
PLEASE HELP ASAP!
Hi! Can you help me solve this problem? Thank you
Hi, Could you please show me how to solve this with formulas? not excel, I should have clarified. Thanks
How do you find yeild to call?