Jorgenson Corporation has provided the following data for the first five months of the year:MachineLubricationCostHoursJanuary240$ 1,500February320$ 1,600March400$ 1,740April300$ 1,580May340$ 1,680Using the least-squares regression method of analysis, the estimated variable lubrication cost permachine hour is closest to:Multiple ChoiceО$1.40$1.56$0.80

The data set for the machine hours and lubrication cost is given belowMachine Hours(X)Lubrication…

Answered: Jorgenson Corporation has provided the…

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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An important application of regression analysis in accounting is in the estimation of cost. By collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, an accountant can estimate the cost associated with a particular manufacturing volume. Consider the following sample of production volumes and total cost data for a manufacturing operation. Production Volume (units) Total Cost ($) 400 3,800 450 4,800 550 5,200 600 5,700 700 6,200 750 6,800 a. Compute b1 and bo (to 1 decimal). b1 bo Complete the estimated regression equation (to 1 decimal). + b. What is the variable cost per unit produced (to 1 decimal)? c. Compute the coefficient of determination (to 3 decimals). Note: report r between 0 and 1. What percentage of the variation in total cost can be explained by the production volume (to 1 decimal)? d. The company's production schedule shows 500 units must be produced next month. What is the estimated total…
A researcher records data on 7 adult pairs' heights (in inches) to compare the physical characteristics of brothers and sisters. Brother Sister 71 69 68 64 6 65 67 63 70 65 71 62 66 62 Mean 68.4285 64.2857 SD 2.2253 2.4299 r=0.4050 What would the least-squares regression equation be for predicting the brother's height from the sister's? A. brother's height = 0.037+44.58 * sister's height B. brother's height = 44.58 + 0.371* sister's height C. brother's height = 20.71 + 0.029 * sister's height D. brother's height = 3.28- 40.68 * sister's height If the sister's height is the same as the mean (64.2857 inches), what would the brother's predicted height be A. 68.4285 (the same as the mean as well) B. 62.1234 C. 70.8990 D. None of the above. Which of the following would be correct? A. The pair of means, (68.4285, 64.2857), lies on the linear regression line. B. The effectiveness of the linear regression model is about 16%, C. The effectiveness of the linear regression model is 10096. D. Both…
The following is the data for Patient Days (the cost driver) and Maintenance Costs for a local hospital: Month Patient Days (Cost driver) Maintenance Costs January 3,300 $4,450 February 4,050 $4,750 March 3,000 $4,200 April 3, 750 $ 4,600 May 4,150 $5,050 June 4,500 $5,400 July 2,600 $4,400 Using regression analysis to analyze the hospital's cost structure, the estimated fixed maintenance cost for the hospital is: $5,468 $0.793 $2,734 $0.541
The invasive diatom species Didymosphenia geminata has the potential to inflict substantial ecological and economic damage in rivers. An article described an investigation of colonization behavior. One aspect of particular interest was whether y = colony density was related to x = rock surface area. The article contained a scatterplot and summary of a regression analysis. Here is representative data. x 50 71 55 50 33 58 79 26 y 157 1934 53 27 7 10 40 12 x 69 44 37 70 20 45 49 y 274 43 176 18 48 190 30 (a) Fit the simple linear regression model to this data. (Round your numerical values to three decimal places.) y = Predict colony density when surface area = 70 and calculate the corresponding residual. (Round your answers to the nearest whole number.) colony density corresponding residual Predict colony density when surface area = 71 and calculate the corresponding residual. (Round your answers to the nearest whole number.) colony…
An important application of regression analysis in accounting is in the estimation of cost. By collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, an accountant can estimate the cost associated with a particular manufacturing volume. Consider the following sample of production volumes O and total cost data for a manufacturing operation. O Production Volume (units) Total Cost ($) 400 4100 450 4600 500 5600 600 6400 700 7400 750 8400 N The data on the production volume and total cost y for particular manufacturing operation were used to develop the estimated regression equation ŷ = -524.58+11.66z. a. The company's production schedule shows that 550 units must be produced next month. Predict the total cost for next month. ŷ* = (to 2 decimals) b. Develop a 98% prediction interval for the total cost for next month. X (to 2 decimals) 8 t-value (to 3 decimals) 8pred (to 2 decimals) Prediction Interval for…
An important application of regression analysis in accounting is in the estimation of cost. By collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, an accountant can estimate the cost associated with a particular manufacturing volume. Consider the following sample of production volumes and total cost data for a manufacturing operation. Production Volume (units) Total Cost ($) 400 4,300 450 5,300 550 5,700 600 6,200 700 6,700 750 7,300 Compute b1 and b0 (to 1 decimal). Complete the estimated regression equation (to 1 decimal) y^ = ____ + ____x What is the variable cost per unit produced (to 1 decimal)?
This C The weight of an organ in adult males has a bell-shaped distribution with a mean of 310 grams and a standard deviation of 40 grams. Use the empirical rule to determine the folowing (a) About 99.7% of organs will be between what weights? (b) What percentage of organs weighs between 230 grams and 390 grams? (c) What percentage of organs weighs less than 230 grams or more than 390 grams? (d) What percentage of organs weighs between 270 grams and 430 grams? (a) and grams (Use ascending order.) (b)% (Type an integer or a decimal.) (c) % (Type an integer or a decimal.) (d) % (Type an integer or decimal rounded to two decimal places as needed.) Enter your answer in each of the answer boxes. e Type here to search 近

An important application of regression analysis is in the estimation of cost. By collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, one can estimate the cost associated with a particular manufacturing volume. Consider the following sample of monthly production volumes and total costs data for a manufacturing operation for the year 2018. Month Production Volume (units) Total Costs ($) January 2018 February 2018 500 6,000 350 4,000 March 2018 450 5,000 April 2018 550 5,400 May 2018 600 5,900 June 2018 400 4,000 July 2018 August 2018 September 2018 400 4,200 350 3,900 400 4,300 October 2018 600 6,000 November 2018 700 6,400 December 2018 750 7,000 Which of the following is NOT necessarily true about the interpretation of the value of b in the simple linear regression equation y = a + bx for this problem? * I. The monthly total costs will increase by $7.6437 for every one-unit increase in the…
An important application of regression analysis in accounting is in the estimation of cost. By collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, an accountant can estimate the cost associated with a particular manufacturing volume. Consider the following sample of production volumes and total cost data for a manufacturing operation. Production Volume (units) Total Cost ($) 400 4,700 450 5,700 550 6,100 600 6,600 700 7,100 750 7,700 A) Compute b1 and b0 (to 1 decimal)b1 b0 Complete the estimated regression equation (to 1 decimal). = + x B) What is the variable cost per unit produced (to 1 decimal)?$ C) Compute the coefficient of determination (to 3 decimals). Note: report r2 between 0 and 1.r2 = What percentage of the variation in total cost can be explained by the production volume (to 1 decimal)? % D) The company's production schedule shows 500 units must be produced next…
An important application of regression analysis in accounting is in the estimation of cost. By collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, an accountant can estimate the cost associated with a particular manufacturing volume. Consider the following sample of production volumes and total cost data for a manufacturing operation. Total Cost ($) 3900 4700 5300 5700 6400 7100 The data on the production volume and total cost y for particular manufacturing operation were used to develop the estimated regression equation =-490.00 + 10.60x, a. The company's production schedule shows that 450 units must be produced next month. Predict the total cost for next month. ŷ* = * (to 2 decimals) b. Develop a 99% prediction interval for the total cost for next month. (to 2 decimals) 8 t- value decimals) (to 3 * (to 2 Spred decimals) Prediction Interval for an individual Value next month Ⓡ Production Volume…
The smaller the distance between observed data points and the regression line, the smaller the sum of squares regression (SSR). Select one: O True False

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