Answer:
Explanation:
The answer to the above question is given in the attached document.
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 = $
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 = $
1 answer:
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Answer:
c) 10%; stays the same.
Explanation:
Elasticity of supply measures the degree of responsiveness of quantity supplied to changes in price.
Supply is perfectly inelastic if a change in price has no effect on quantity supplied. The quantity supplied remains unchanged despite changes in price.
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