Question

valle crucis corporation wanted to determine the relationship between its monthly operating costs and a potential cost​ driver, machine hours. the output of a regression analysis showed the following information​ (note: only a portion of the regression analysis results is presented​ here): loading...​(click the icon to view the portion of the regression​ analysis.) what is closest to the total cost if the firm uses​ 6,000 machine​ hours?

Answer 1

The closest to the total cost if the firm uses​ 6,000 machine​ hours is $2,945.95.

What is regression analysis?

The term regression analysis is defined as a combination of statistical methods utilised for the for the relation between a variable which is not dependent and a variable which is dependent.

The prediction errors that will be represented by vertical lines from regression line to the point.The main purpose or aim of regression analysis is to confirm the value of the variable which is dependent. The second objective of regression line is to calculate the effect of elaborately variable on the variable which is dependent.

Therefore,the closest to the total cost if the firm uses​ 6,000 machine​ hours is $2,945.95.

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