Essay
Conquest Industries made the following observations of supply costs at different production volume levels: 
a. Using the method of least squares, develop an estimate of total fixed costs and variable cost per unit. (Round your estimate of variable cost per unit to two decimal points.)
b. Develop a cost function to estimate supply cost at different volume levels and then estimate supply cost if production is expected to be 700 units.
c. If the coefficient of correlation was .95, what percentage of the change in supply cost could be explained by changes in production volume?
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a. Method of least squares: 
The slope o...View Answer
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The slope o...View Answer
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