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Author Question: South by Southwest Company used least squares regression analysis to obtain the following output: ... (Read 87 times)

renzo156

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South by Southwest Company used least squares regression analysis to obtain the following output:

Payroll Department Cost
Explained by Number of Employees
Constant$7,540
Standard error of Y estimate819
r20.8924
Number of observations20
X coefficient(s)$2.473
Standard error of coefficient(s)0.0966

Required:
a.What is the total fixed cost?
b.What is the variable cost per employee?
c.Prepare the linear cost function.
d.What is the coefficient of determination? Comment on the goodness of fit. 


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Marked as best answer by renzo156 on Mar 6, 2021

Anton

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renzo156

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Reply 2 on: Mar 6, 2021
Great answer, keep it coming :)


Joy Chen

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Reply 3 on: Yesterday
Wow, this really help

 

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