The following information was gathered by the managerial accountant to estimate the 2nd quarter's utility cost: Months Utility Cost Direct labor hours January ₱8,520 1809 February ₱7,628 1421 March ₱5,712 912 April ₱6,746 1102 Summation of X 5,244 Summation of Y 28,606 Summation of XY 38,895,504 Summation of X-squared 7,337,870 Using the regression analysis, what is the estimated cost-function for the 2nd quarter?
The following information was gathered by the managerial accountant to estimate the 2nd quarter's utility cost: Months Utility Cost Direct labor hours January ₱8,520 1809 February ₱7,628 1421 March ₱5,712 912 April ₱6,746 1102 Summation of X 5,244 Summation of Y 28,606 Summation of XY 38,895,504 Summation of X-squared 7,337,870 Using the regression analysis, what is the estimated cost-function for the 2nd quarter?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The following information was gathered by the
| Months | Utility Cost | Direct labor hours |
| January | ₱8,520 | 1809 |
| February | ₱7,628 | 1421 |
| March | ₱5,712 | 912 |
| April | ₱6,746 | 1102 |
| Summation of X | 5,244 |
| Summation of Y | 28,606 |
| Summation of XY | 38,895,504 |
| Summation of X-squared | 7,337,870 |
Using the regression analysis, what is the estimated cost-function for the 2nd quarter?
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