Homework Answers
b.
| SUMMARY OUTPUT | ||||||||
| Regression Statistics | ||||||||
| Multiple R | 0.939637678 | |||||||
| R Square | 0.882918965 | |||||||
| Adjusted R Square | 0.8775971 | |||||||
| Standard Error | 161798.0253 | |||||||
| Observations | 24 | |||||||
| ANOVA | ||||||||
| df | SS | MS | F | Significance F | ||||
| Regression | 1 | 4.34E+12 | 4.34E+12 | 165.904 | 1.01E-11 | |||
| Residual | 22 | 5.76E+11 | 2.62E+10 | |||||
| Total | 23 | 4.92E+12 | ||||||
| Coefficients | Standard Error | t Stat | P-value | Lower 95% | Upper 95% | Lower 95.0% | Upper 95.0% | |
| Intercept | 978728.8682 | 164194.3 | 5.960798 | 5.34E-06 | 638210.8 | 1319247 | 638210.8 | 1319247 |
| Labor Hours | 6.75215177 | 0.52422 | 12.88037 | 1.01E-11 | 5.664986 | 7.839318 | 5.664986 | 7.839318 |
Intercept = $978728.87
Cost per labor hour = $6.75
c.
Cost for 450000 hours = 450000 x $6.75 + 978729 = $4016229
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Gator Beach Marts, a chain of convenience grocery stores in the
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month as the tourist trade in the community varies. The utility
costs for one of the company’s stores are listed below for the past
six months.
Month
Total Hours
of Operation
Total Utility
Cost
January
550
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February
600
1,700
March
700
1,900
April
500
1,600
May
450
1,350
June
400
1,300
Required:
1-a. Use the...
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Sawaya Co., Ltd., of Japan is a manufacturing company whose total factory overhead costs fluctuate considerably from year to year according to increases and decreases in the number of direct labor-hours worked in the factory. Total factory overhead costs at high and low levels of activity for recent years are given below: Level of Activ Low 51,000 High 68,000 Direct labor-hours Total factory overhead costs 267,200 $299,500 The factory overhead costs above consist of indirect materials, rent, and maintenance. The...
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Gator Beach Marts, a chain of convenience grocery stores in the
Fort Lauderdale area, has store hours that fluctuate from month to
month as the tourist trade in the community varies. The utility
costs for one of the company’s stores are listed below for the past
six months.
Month
Total Hours
of Operation
Total Utility
Cost
January
550
$
1,620
February
600
1,700
March
700
1,900
April
500
1,600
May
450
1,350
June
400
1,300
Required:
1-a. Use the...
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