Analyzing Mixed Costs Using Least-Squares Regression
Refer to the Wendy’s Widgets data in M5-7. Suppose Wendy performed a least-squares regression and obtained the following results.
Coefficients | |
Intercept | 2718.59 |
X Variable 1 | 1.11 |
Put Wendy’s results into a linear equation format (Y = A + BX) and explain what each component means. Compare the regression results to those obtained in M5-7 and M5-8. Which method is most accurate? Why?
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