Star, Inc. used Excel to run a least-squares regression analysis, which resulted in the following output: Regression Statistics Multiple R R Square 0.9711 0.9473 Observations 30 Coefficients Standard Error T Stat P-Value Intercept 175,007 61,607 2.84 0.021 Production (X) 11.14 0.9237 12.06 0.000 How much of the variation in cost is not explained by production? Multiple Choice It is impossible to determine. 5.27% 7.63% 2.89%

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Star, Inc. used Excel to run a least-squares regression analysis, which resulted in the following output:
Regression Statistics
Multiple R
0.9711
R Square
0.9473
Observations
30
Coefficients
Standard Error
T Stat
P-Value
Intercept
175,007
61,607
2.84
0.021
Production (X)
11.14
0.9237
12.06
0.000
How much of the variation in cost is not explained by production?
Multiple Choice
It is impossible to determine.
5.27%
7.63%
2.89%
Transcribed Image Text:Star, Inc. used Excel to run a least-squares regression analysis, which resulted in the following output: Regression Statistics Multiple R 0.9711 R Square 0.9473 Observations 30 Coefficients Standard Error T Stat P-Value Intercept 175,007 61,607 2.84 0.021 Production (X) 11.14 0.9237 12.06 0.000 How much of the variation in cost is not explained by production? Multiple Choice It is impossible to determine. 5.27% 7.63% 2.89%
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