answer in detail describe each and every step strictly no copy paste need correct answer Appendix; Least squares regressionWyoming Wholesale has gathered the following data on the number of shipments received and the cost of receiving reports for the first seven weeks of the year.Number of Shipments Received Weekly Cost of Receiving Reports$245227216199259280283Note: When answering the following questions, round your answers to two decimal places.70625649748184a. Using the least squares method, develop the equation for predicting weekly receiving report costs based on the number of shipments received.y = $ 76.71*+$2.46(# of shipments)b. What is the predicted amount of receiving report costs for a month (assume a month is exactly four weeks) in which 231 shipments are received? $ 645.49X

By using least square method , we will find the answer to the following above question Please find…

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is the predicted amount of receiving report costs for a month (assume a month is exactly four weeks) in which 231 shipments are received? $ 645.49

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.

Question

answer in detail describe each and every step strictly no copy paste need correct answer

Appendix; Least squares regression
Wyoming Wholesale has gathered the following data on the number of shipments received and the cost of receiving reports for the first seven weeks of the year.
Number of Shipments Received Weekly Cost of Receiving Reports
$245
227
216
199
259
280
283
Note: When answering the following questions, round your answers to two decimal places.
70
62
56
49
74
81
84
a. Using the least squares method, develop the equation for predicting weekly receiving report costs based on the number of shipments received.
y = $ 76.71
*+$2.46
(# of shipments)
b. What is the predicted amount of receiving report costs for a month (assume a month is exactly four weeks) in which 231 shipments are received? $ 645.49
X

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