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 are the expected costs if 520 purchase orders are processed? Please round your answer to the nearest whole dollar.

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 are the expected costs if 520 purchase orders are processed? Please round your answer to the nearest whole dollar.

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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A shoe store developed the following estimated regression equation relating sales to inventory investment and advertising expenditures. ŷ= 29+ 10x1 + 6x2 where x=inventory investment ($1,000s) X2 y advertising expenditures ($1,000s) sales ($1,000s). (a) Predict the sales (in dollars) resulting from a $14,000 investment in inventory and an advertising budget of $11,000. $ 15,000 (b) Interpret b, and b₂ in this estimated regression equation. Sales can be expected to increase by $ 10,000 expected to increase by $231,000 X for every dollar increase in inventory investment when advertising expenditure is held constant. Sales can be X for every dollar increase in advertising expenditure when inventory investment is held constant.
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