Essay
Terry Smith Corporation used least squares regression analysis to obtain the following
output:
Personnel Department Cost
Explained by Number of Employees
| Constant | $5,800 |
| Standard error of Y estimate | $630 |
| R - squared | 0.8924 |
| No. of observations | 20 |
| Degrees of freedom | 18 |
| X coefficient(s) | 1.902 |
| Standard error of coefficient(s) | 0.0966 |
a. What is the total fixed cost?
b. What is the variable cost per employee?
c. Prepare the line ar cost function.
d. What is the coefficient of determination? Comment on the goodness of fit
Correct Answer:
Verified
a. What is the total fixed cost?
b. What...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Correct Answer:
Verified
b. What...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q191: On December 30,a fire destroyed most of
Q192: Phoenix Corporation<br>The records of Phoenix Corporation revealed
Q193: Wyatt Corporation<br>Wyatt Corporation has the following standard
Q194: Expected capacity is a long-run measure of
Q195: An outlier is<br>A)something that happens outside the
Q196: Richardson Company<br>The following information is available for
Q197: If actual overhead exceeds applied overhead,factory overhead
Q199: In a normal cost system,factory overhead is
Q200: Which of the following is not associated
Q201: Phantom profits result when absorption costing is