Garfield Company manufactures a popular brand of dog repellant known as DogGone It, which it sells in gallon-size bottles with a spray attachment. The majority of Garfield's business comes from orders placed by homeowners who are trying to keep neighborhood dogs out of their yards. Garfield's operating information for the first six months of the year follows: Month January Operating Cost Number of Bottles Sold 1,020 $ 10,710 February 1,450 15,660 March 1,740 15,900 April 2,350 19,890 May June 3,360 27,490 3,800 34,800 Required: 3. Using the high-low method, calculate Garfield's total fixed operating costs and variable operating cost per bottle. 4. Perform a least-squares regression analysis on Garfield's data. 5. Determine how well this regression analysis explains the data. 6. Using the regression output, create a linear cost equation (y = a + bx) for estimating Garfield's operating costs. Complete this question by entering your answers in the tabs below. Required 3 Required 4 Required 5 Required 6 Perform a least-squares regression analysis on Garfield's data. Note: Use Microsoft Excel or a statistical package to find the coefficients using least-squares regression. Round your answers to 3 decimal places. Intercept X Variable 1 Coefficients 10,710.000 8.660 < Required 3 Required 5 >

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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Transcribed Image Text:Garfield Company manufactures a popular brand of dog repellant known as DogGone It, which it sells in gallon-size bottles with a spray attachment. The majority of Garfield's business comes from orders placed by homeowners who are trying to keep neighborhood dogs out of their yards. Garfield's operating information for the first six months of the year follows: Month January Operating Cost Number of Bottles Sold 1,020 $ 10,710 February 1,450 15,660 March 1,740 15,900 April 2,350 19,890 May June 3,360 27,490 3,800 34,800 Required: 3. Using the high-low method, calculate Garfield's total fixed operating costs and variable operating cost per bottle. 4. Perform a least-squares regression analysis on Garfield's data. 5. Determine how well this regression analysis explains the data. 6. Using the regression output, create a linear cost equation (y = a + bx) for estimating Garfield's operating costs. Complete this question by entering your answers in the tabs below. Required 3 Required 4 Required 5 Required 6 Perform a least-squares regression analysis on Garfield's data. Note: Use Microsoft Excel or a statistical package to find the coefficients using least-squares regression. Round your answers to 3 decimal places. Intercept X Variable 1 Coefficients 10,710.000 8.660 < Required 3 Required 5 >

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