Author Question: The H.W. Grant Corporation used regression analysis to predict the annual cost of indirect ... (Read 33 times)

Capo · **on:** Mar 6, 2021

Question 1

The coefficient of determination is important in explaining variances in estimating equations. For a certain estimating equation, the unexplained variation was given as 22,000. The total variation was given as 55,000. What is the coefficient of determination for the equation?
◦ 2.50
◦ 0.40
◦ 0.60
◦ 1.40

Question 2

The H.W. Grant Corporation used regression analysis to predict the annual cost of indirect materials. The results were as follows:

Indirect Materials Cost Explained by Units Produced

Constant

$15,640

Standard error of Y estimate

$3,600

r2

0.7704

Number of observations

22

X coefficient(s)

11.25

Standard error of coefficient(s)

2.19

What is the cost estimation equation?
◦ Y = $15,640 + $11.25X
◦ Y = $3,600 + $8.67X
◦ Y = $19,240 + $5.14X
◦ Y = $12,040 + $11.25X

sierrahalpin · **Reply #1 on:** Mar 6, 2021

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