Using the following accounts and an overhead rate of 80% of direct labor cost, determine the amount of applied overhead. Work in
1 answer:
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x: 500, 700, 750, 590 , 540, 650, 480
y: 7.00, 7.50 , 9.00, 6.5, 7.50 , 7.0, 4.50
We want to create a linear model like this :
Where
And:
With these we can find the sums:
And the slope would be:
Now we can find the means for x and y like this:
And we can find the intercept using this:
And the line would be:
Part b
The correlation coefficient is given by:
For our case we have this:
The determination coefficient is given by:
Part c
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