Homework Answers
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Q#7)
A linear regression is calculated using the below formula:
Y = a + bX
Where:
Y indicates dependent variable or total cost
X indicates independent variable or no. of units produced
b indicates slope of the regression line or Variable cost per unit
a indicates intercept of the regression line or total fixed Cost
Therefore in the given case,
- Fixed cost component (a or intercept ) = 6903, means option-a is correct
- Variable cost per unit (b or X Variable 1)=3.02, means option-b is correct
- Total Cost of 400 units:
Formula::
Y = a + bX
Total Cost = Fixed Cost + (Variable cost per unit x No of units)
= 6903+(3.02x400)
=8,111 means option-c is also correct
ANSWER : OPTION-(d) ALL OF THE ABOVE
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