The following information is available regarding the total repair costs of Alexander Design Company for six months of 2022: Using the least-square regression analysis on Excel, construct a cost formula. Run a regression analysis on the data above and provide your response to the following three questions. Round decimals to the nearest tenth (i.e, two decimal points). (1) Provide the regression output and construct a cost model. (2) According to the cost model, what is the estimated total fixed cost? (3) According to the cost model, what is the estimated variable cost per unit?
The following information is available regarding the total repair costs of Alexander Design Company for six months of 2022: Using the least-square regression analysis on Excel, construct a cost formula. Run a regression analysis on the data above and provide your response to the following three questions. Round decimals to the nearest tenth (i.e, two decimal points). (1) Provide the regression output and construct a cost model. (2) According to the cost model, what is the estimated total fixed cost? (3) According to the cost model, what is the estimated variable cost per unit?
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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Problem 1P
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Question
The following information is available regarding the total repair costs of Alexander Design Company for six months of 2022:
Using the least-square
(1) Provide the regression output and construct a cost model.
(2) According to the cost model, what is the estimated total fixed cost?
(3) According to the cost model, what is the estimated variable cost per unit?
![Repair
Cost
Units
Produced
January..
February.
$15,875
$16,500
1,500
1,750
March
1,000
$11,250
April
May
$15,250
$17,750
$20,250
1,250
1,875
June
2,250](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0d64a72c-ef4f-4748-9866-4f4da42ec416%2F1d62fd9e-930c-481b-8fd1-c87b9db1fa3a%2Fhv8vr5e_processed.png&w=3840&q=75)
Transcribed Image Text:Repair
Cost
Units
Produced
January..
February.
$15,875
$16,500
1,500
1,750
March
1,000
$11,250
April
May
$15,250
$17,750
$20,250
1,250
1,875
June
2,250
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