Suppose Havana performed a least-squares regression and obtained the following results Coefficients 2718.59 0.56 Intercept X Variable 1 Required: Put Havana's results into a linear equation format (ya b Note: Round your final answers to 2 decimal places. Which method is most accurate? O High-low method O Regression method (Number of hats)
Suppose Havana performed a least-squares regression and obtained the following results Coefficients 2718.59 0.56 Intercept X Variable 1 Required: Put Havana's results into a linear equation format (ya b Note: Round your final answers to 2 decimal places. Which method is most accurate? O High-low method O Regression method (Number of hats)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
please dont provide answer in image format thank you
![M5-15 (Static) Estimating Cost Behavior Using Least-Squares Regression [LO 5-4]
Havana Hats makes the world's best hats. Information for the last eight months follows:
Number of Bats
Produced
#,000
4.500
Month
January
February
March
April
May
7,000
8,600
3,750
6,000
3,000
4,250
5,000
5,750
Suppose Havana performed a least-squares regression and obtained the following results:
June
July
August
Intercept
x Variable I
Total Cost
$7,000
5,000
6,250
7,750
5,000
6,250
Coefficienta
2710.59
0.56
Total cost
Required:
Put Havana's results into a linear equation format (y= a + bx)
Note: Round your final answers to 2 decimal places.
(Number of hats)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3f302e04-28b1-4217-aa6d-370d93413500%2F1a488a1f-fe1b-47d7-b9e3-8414a195f546%2Fqefe1bp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:M5-15 (Static) Estimating Cost Behavior Using Least-Squares Regression [LO 5-4]
Havana Hats makes the world's best hats. Information for the last eight months follows:
Number of Bats
Produced
#,000
4.500
Month
January
February
March
April
May
7,000
8,600
3,750
6,000
3,000
4,250
5,000
5,750
Suppose Havana performed a least-squares regression and obtained the following results:
June
July
August
Intercept
x Variable I
Total Cost
$7,000
5,000
6,250
7,750
5,000
6,250
Coefficienta
2710.59
0.56
Total cost
Required:
Put Havana's results into a linear equation format (y= a + bx)
Note: Round your final answers to 2 decimal places.
(Number of hats)
Transcribed Image Text:nay
June
July
August
Suppose Havana performed a least-squares regression and obtained the following results:
Coefficients
271.59
0.56
Intercept
X Variable 1
3,328
6,000
3,000
5,000
Required:
Put Havana's results into a linear equation format (ya+bx
Note: Round your final answers to 2 decimal places.
Which method is most accurate?
High-low method
Regression method
6.250
4,250
5,750
(Number of hats)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education