It's Still Raining (ISR) manufacturers umbrellas. In order to better budget and manage costs, they are analyzing the purchasing costs behavior. They have the following data from the last six months of last year. Month Total Purchasing Costs Purchase Orders July $19,670 460 August $20,940 560 September $19,430 400 October $20,020 500 November $18,800 470 December $19,340 480 Using the regression analysis function in Excel, what is the unit variable cost? Please round your answer to two decimal places.
It's Still Raining (ISR) manufacturers umbrellas. In order to better budget and manage costs, they are analyzing the purchasing costs behavior. They have the following data from the last six months of last year. Month Total Purchasing Costs Purchase Orders July $19,670 460 August $20,940 560 September $19,430 400 October $20,020 500 November $18,800 470 December $19,340 480 Using the regression analysis function in Excel, what is the unit variable cost? Please round your answer to two decimal places.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
It's Still Raining (ISR) manufacturers umbrellas. In order to better budget and manage costs, they are analyzing the purchasing costs behavior. They have the following data from the last six months of last year.
| Month | Total Purchasing Costs | Purchase Orders |
| July | $19,670 | 460 |
| August | $20,940 | 560 |
| September |
$19,430 |
400 |
| October | $20,020 | 500 |
| November | $18,800 | 470 |
| December | $19,340 | 480 |
Using the
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps with 5 images
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman