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Vladimir79 [104]
3 years ago
9

Method of Least Squares, Developing and Using the Cost Formula The method of least squares was used to develop a cost equation t

o predict the cost of receiving purchased parts at a video game manufacturer. Ninety-six data points from monthly data were used for the regression. The following computer output was received:
Intercept 201,200
Slope 365
The cost driver used was number of parts inspected.

1. What is the cost formula?
Total cost receiving of =$ + ($x)

2. Using the cost formula from Requirement 1, identify each of the following: independent variable, dependent variable, Variable rate per professional hour, and fixed cost per month.

3. Using the cost formula, predict the cost of receiving for a month in which 8,000 parts are inspected.

Total cost of receiving = $

Business
1 answer:
liberstina [14]3 years ago
5 0

Answer:

Total cost of receiving 8000 parts: 2878700

Detailed solution is given in tabular form below:

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