Required informationExercise 5A-5 (Algo) Least-Squares Regression [LO5-11]George Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom watches in small lots. One of thecompany's products, a platinum diving watch, goes through an etching process. The company has recorded etchingcosts as follows over the last six weeks:Week123456Units9611571048Req 2AFor planning purposes, management would like to know the variable etching cost per unit and the total fixed etchingcost per week.Total EtchingCost$ 27203120Exercise 5A-5 Part 2 (Algo)2430$ 1522-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.Req 2BComplete this question by entering your answers in the tabs below.Fixed etching cost per weekVariable etching cost per unitX Answer is complete but not entirely correct.Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost perweek. (Round your answers to 2 decimal places.)S$20.47 X0.61 X

Least squares regression analysis or linear regression method is deemed to be the most accurate and…

Required information Exercise 5A-5 (Algo) Least-Squares Regression [LO5-11] 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: Week 1 2 3 5 6 Units 9 6 11 5 7 Req 2A 10 48 For planning purposes, management would like to know the variable etching cost per unit and the total fixed etching cost per week. Total Etching Cost $ 27 20 31 20 Exercise 5A-5 Part 2 (Algo) 2-a. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per we 2-b. Express these estimates in the form Y= a +bX. 24 30 $ 152 Req 2B Complete this question by entering your answers in the tabs below. Fixed etching cost per week Variable etching cost per unit Answer is complete but not entirely correct. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week. (Round your answers to 2 decimal places.) S 20.47 X $ 0.61 X

Required information Exercise 5A-5 (Algo) Least-Squares Regression [LO5-11] 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: Week 1 2 3 5 6 Units 9 6 11 5 7 Req 2A 10 48 For planning purposes, management would like to know the variable etching cost per unit and the total fixed etching cost per week. Total Etching Cost $ 27 20 31 20 Exercise 5A-5 Part 2 (Algo) 2-a. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per we 2-b. Express these estimates in the form Y= a +bX. 24 30 $ 152 Req 2B Complete this question by entering your answers in the tabs below. Fixed etching cost per week Variable etching cost per unit Answer is complete but not entirely correct. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week. (Round your answers to 2 decimal places.) S 20.47 X $ 0.61 X

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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Required information Exercise 5A-5 (Algo) Least-Squares Regression [LO5-11] 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: Week 1 2 3 4 5 6 Units 13 11 16 15 18 18 91 Total Etching Cost $ 24 21 31 25 31 32 $ 164 For planning purposes, management would like to know the variable etching cost per unit and the total fixed etching cost per week. Expected total etching cost Exercise 5A-5 Part 3 (Algo) 3. If the company processes twenty units next week, what would be the expected total etching cost? (Round your intermediate calculations and final answer to 2 decimal places.)
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Least-Squares Regression 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: For planning purposes, management would like to know the variable etching cost per unit and the total fixed etching cost per week. Required: 1. Prepare a scattergraph plot. (Plot etching costs on the vertical axis and units on the horizontal axis.) 2. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week. Express these estimates in the form Y = a + bX. 3. If the company processes five units next week, what would be the expected total etching cost? (Round your answer to the nearest cent.)
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Required information. Exercise 5A-5 (Algo) Least-Squares Regression [LO5-11] 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: Week 1 22555T 3 Y = 4 6 Units 13 11 16 15 18 18 91 For planning purposes, management would like to know the variable etching cost per unit and the total fixed etching cost per week. Exercise 5A-5 Part 2 (Algo) Total Etching Cost $ 24 21 31 25 31 32 $ 164 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. Req 2A Complete this question by entering your answers in the tabs below. Req 2B Express these estimates in the form Y = a +bX. (Round your answers to 2 decimal places.) X
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