! Required information Exercise 2A-5 (Algo) Least-Squares Regression [LO2-11] George Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom watches in small lots. One of the company's products, a platinum diving watch, goes through an etching process. The company has recorded etching costs as follows over the last six weeks: Total Etching Week Units 1 6 Cost $ 21 2 7 23 3 11 28 4 12 27 5 13 28 6 14 29 63 $ 156 For planning purposes, management would like to know the variable etching cost per unit and the total fixed etching cost per week. Exercise 2A-5 Part 2 (Algo) Required: 2-a. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week. 2-b. Express these estimates in the form Y = a + bx. Complete this question by entering your answers in the tabs below. Req 2A Req 2B Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week. Note: Round your answers to 2 decimal places. Fixed etching cost per week Variable etching cost per unit < Req 2A Req 2B > Required: 2-a. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week. 2-b. Express these estimates in the form Y = a + bx. Complete this question by entering your answers in the tabs below. Req 2A Req 2B Express these estimates in the form Y = a + bx. Note: Round your answers to 2 decimal places. Y = < Req 2A Req 28 >
! Required information Exercise 2A-5 (Algo) Least-Squares Regression [LO2-11] George Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom watches in small lots. One of the company's products, a platinum diving watch, goes through an etching process. The company has recorded etching costs as follows over the last six weeks: Total Etching Week Units 1 6 Cost $ 21 2 7 23 3 11 28 4 12 27 5 13 28 6 14 29 63 $ 156 For planning purposes, management would like to know the variable etching cost per unit and the total fixed etching cost per week. Exercise 2A-5 Part 2 (Algo) Required: 2-a. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week. 2-b. Express these estimates in the form Y = a + bx. Complete this question by entering your answers in the tabs below. Req 2A Req 2B Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week. Note: Round your answers to 2 decimal places. Fixed etching cost per week Variable etching cost per unit < Req 2A Req 2B > Required: 2-a. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week. 2-b. Express these estimates in the form Y = a + bx. Complete this question by entering your answers in the tabs below. Req 2A Req 2B Express these estimates in the form Y = a + bx. Note: Round your answers to 2 decimal places. Y = < Req 2A Req 28 >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![!
Required information
Exercise 2A-5 (Algo) Least-Squares Regression [LO2-11]
George Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom watches in small lots. One of the
company's products, a platinum diving watch, goes through an etching process. The company has recorded etching costs
as follows over the last six weeks:
Total Etching
Week
Units
1
6
Cost
$ 21
2
7
23
3
11
28
4
12
27
5
13
28
6
14
29
63
$ 156
For planning purposes, management would like to know the variable etching cost per unit and the total fixed etching cost
per week.
Exercise 2A-5 Part 2 (Algo)
Required:
2-a. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week.
2-b. Express these estimates in the form Y = a + bx.
Complete this question by entering your answers in the tabs below.
Req 2A
Req 2B
Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per
week.
Note: Round your answers to 2 decimal places.
Fixed etching cost per week
Variable etching cost per unit
< Req 2A
Req 2B >](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F05973f43-31d4-46fe-8ca0-18575dfeb522%2Fdb05ea1d-21c8-46ed-8a0d-6a8cc5d0676f%2Fpqtua_processed.jpeg&w=3840&q=75)
Transcribed Image Text:!
Required information
Exercise 2A-5 (Algo) Least-Squares Regression [LO2-11]
George Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom watches in small lots. One of the
company's products, a platinum diving watch, goes through an etching process. The company has recorded etching costs
as follows over the last six weeks:
Total Etching
Week
Units
1
6
Cost
$ 21
2
7
23
3
11
28
4
12
27
5
13
28
6
14
29
63
$ 156
For planning purposes, management would like to know the variable etching cost per unit and the total fixed etching cost
per week.
Exercise 2A-5 Part 2 (Algo)
Required:
2-a. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week.
2-b. Express these estimates in the form Y = a + bx.
Complete this question by entering your answers in the tabs below.
Req 2A
Req 2B
Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per
week.
Note: Round your answers to 2 decimal places.
Fixed etching cost per week
Variable etching cost per unit
< Req 2A
Req 2B >
Transcribed Image Text:Required:
2-a. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week.
2-b. Express these estimates in the form Y = a + bx.
Complete this question by entering your answers in the tabs below.
Req 2A
Req 2B
Express these estimates in the form Y = a + bx.
Note: Round your answers to 2 decimal places.
Y =
< Req 2A
Req 28 >
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