Analyzing Mixed Costs Using Least Squares Regression
Refer to the Tan-O-Rama data In M5-3. Suppose Taylor performed a least squares regression and obtained the following results:
Coefficients | |
Intercept | 4636.29 |
X Variable 1 | 2.03 |
Put Taylor’s results into a linear equation format (Y = A + BX) and explain what each component means. Compare the regression results to those obtained in M5-3 and M5-4. Which method is most accurate? Why?
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