ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Month January February March April May June Number of Bottles Sold 1,040 1,370 1,720 2,400 Multiple R R Square Adjusted R Square Standard Error 3,400 3,620 Required: 3. Using the high-low method, calculate Garfield's total fixed operating costs and variable operating cost per bottle. 4. Perform a least-squares regression analysis on Garfield's data. 5. Determine how well this regression analysis explains the data. 6. Using the regression output, create a linear cost equation (y= a + bx) for estimating Garfield's operating costs. Complete this question by entering your answers in the tabs below. Required 3 Required 4 Required 5 Required 6 Month January February Operating Cost $ 10,740 Determine how well this regression analysis explains the data. Note: Round your regression statistics to three decimal places and, observation and percentage answer to the nearest whole number. Observations From the regression output, number of bottles explains about March April May June 15,770 16,100 Show Transcribed Text 19,870 27,280 34,900 Total Cost Regression Statistics Number of Bottles Operating Sold Cost 1,040 $ 10,740 1,370 15,770 1,720 16,100 2,400 19,870 3,400 27,280 3,620 34,900 % of the variability in Garfield's total cost. Required: 3. Using the high-low method, calculate Garfield's total fixed operating costs and variable operating cost per bottle. 4. Perform a least-squares regression analysis on Garfield's data. 5. Determine how well this regression analysis explains the data. 6. Using the regression output, create a linear cost equation (y= a + bx) for estimating Garfield's operating costs. J Complete this question by entering your answers in the tabs below. Required 3 Required 4 Required 5 Required 6 Using the regression output, create a linear cost equation (y = a +bx) for estimating Garfield's operating costs. Note: Round your answers to 3 decimal places. (Number of Bottles) < Required 5 Required 6 >
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Transcribed Image Text:Month January February March April May June Number of Bottles Sold 1,040 1,370 1,720 2,400 Multiple R R Square Adjusted R Square Standard Error 3,400 3,620 Required: 3. Using the high-low method, calculate Garfield's total fixed operating costs and variable operating cost per bottle. 4. Perform a least-squares regression analysis on Garfield's data. 5. Determine how well this regression analysis explains the data. 6. Using the regression output, create a linear cost equation (y= a + bx) for estimating Garfield's operating costs. Complete this question by entering your answers in the tabs below. Required 3 Required 4 Required 5 Required 6 Month January February Operating Cost $ 10,740 Determine how well this regression analysis explains the data. Note: Round your regression statistics to three decimal places and, observation and percentage answer to the nearest whole number. Observations From the regression output, number of bottles explains about March April May June 15,770 16,100 Show Transcribed Text 19,870 27,280 34,900 Total Cost Regression Statistics Number of Bottles Operating Sold Cost 1,040 $ 10,740 1,370 15,770 1,720 16,100 2,400 19,870 3,400 27,280 3,620 34,900 % of the variability in Garfield's total cost. Required: 3. Using the high-low method, calculate Garfield's total fixed operating costs and variable operating cost per bottle. 4. Perform a least-squares regression analysis on Garfield's data. 5. Determine how well this regression analysis explains the data. 6. Using the regression output, create a linear cost equation (y= a + bx) for estimating Garfield's operating costs. J Complete this question by entering your answers in the tabs below. Required 3 Required 4 Required 5 Required 6 Using the regression output, create a linear cost equation (y = a +bx) for estimating Garfield's operating costs. Note: Round your answers to 3 decimal places. (Number of Bottles) < Required 5 Required 6 >
Garfield Company manufactures a popular brand of dog repellant known as DogGone It, which it sells in gallon-size bottles with a spray attachment. The majority of Garfield's business comes from orders placed by homeowners who are trying to keep neighborhood dogs out of their yards. Garfield's operating information for the first six months of the year follows: Month January February March April May June Required: 3. Using the high-low method, calculate Garfield's total fixed operating costs and variable operating cost per bottle. 4. Perform a least-squares regression analysis on Garfield's data. Variable Cost per Unit Fixed Cost Number of Bottles Sold 1,040 1,370 1,720 2,400 3,400 3,620 5. Determine how well this regression analysis explains the data. 6. Using the regression output, create a linear cost equation (y a + bx) for estimating Garfield's operating costs. Complete this question by entering your answers in the tabs below. Required 3 Required 4 Required 5 Using the high-low method, calculate Garfield's total fixed operating costs and variable operating cost per bottle. Note: Do not round your intermediate calculations. Round your variable cost per unit answer to 2 decimal places and fixed cost answer to the nearest whole number. Month January February March April Operating Cost May June $ 10,740 15,770 $ Show Transcribed Text 16,100 19,870 27,280 34,900 Number of Bottles Sold 1,040 1,370 1,720 2,400 3,400 3,620 Garfield Company manufactures a popular brand of dog repellant known as DogGone It, which it sells in gallon-size bottles with a spray attachment. The majority of Garfield's business comes from orders placed by homeowners who are trying to keep neighborhood dogs out of their yards. Garfield's operating information for the first six months of the year follows: Intercept X Variable 1 9.36 Coefficients Required 6 Operating Cost $ 10,740 15,770 16,100 19,870 27,280 34,900 Required: 3. Using the high-low method, calculate Garfield's total fixed operating costs and variable operating cost per bottle. 4. Perform a least-squares regression analysis on Garfield's data. 5. Determine how well this regression analysis explains the data. 6. Using the regression output, create a linear cost equation (y= a + bx) for estimating Garfield's operating costs. 3 Complete this question by entering your answers in the tabs below. Required 3 Required 4 Required 5 Required 6 Perform a least-squares regression analysis on Garfield's data. Note: Use Microsoft Excel or a statistical package to find the coefficients using least-squares regression. Round your answers to 3 decimal places.
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Transcribed Image Text:Garfield Company manufactures a popular brand of dog repellant known as DogGone It, which it sells in gallon-size bottles with a spray attachment. The majority of Garfield's business comes from orders placed by homeowners who are trying to keep neighborhood dogs out of their yards. Garfield's operating information for the first six months of the year follows: Month January February March April May June Required: 3. Using the high-low method, calculate Garfield's total fixed operating costs and variable operating cost per bottle. 4. Perform a least-squares regression analysis on Garfield's data. Variable Cost per Unit Fixed Cost Number of Bottles Sold 1,040 1,370 1,720 2,400 3,400 3,620 5. Determine how well this regression analysis explains the data. 6. Using the regression output, create a linear cost equation (y a + bx) for estimating Garfield's operating costs. Complete this question by entering your answers in the tabs below. Required 3 Required 4 Required 5 Using the high-low method, calculate Garfield's total fixed operating costs and variable operating cost per bottle. Note: Do not round your intermediate calculations. Round your variable cost per unit answer to 2 decimal places and fixed cost answer to the nearest whole number. Month January February March April Operating Cost May June $ 10,740 15,770 $ Show Transcribed Text 16,100 19,870 27,280 34,900 Number of Bottles Sold 1,040 1,370 1,720 2,400 3,400 3,620 Garfield Company manufactures a popular brand of dog repellant known as DogGone It, which it sells in gallon-size bottles with a spray attachment. The majority of Garfield's business comes from orders placed by homeowners who are trying to keep neighborhood dogs out of their yards. Garfield's operating information for the first six months of the year follows: Intercept X Variable 1 9.36 Coefficients Required 6 Operating Cost $ 10,740 15,770 16,100 19,870 27,280 34,900 Required: 3. Using the high-low method, calculate Garfield's total fixed operating costs and variable operating cost per bottle. 4. Perform a least-squares regression analysis on Garfield's data. 5. Determine how well this regression analysis explains the data. 6. Using the regression output, create a linear cost equation (y= a + bx) for estimating Garfield's operating costs. 3 Complete this question by entering your answers in the tabs below. Required 3 Required 4 Required 5 Required 6 Perform a least-squares regression analysis on Garfield's data. Note: Use Microsoft Excel or a statistical package to find the coefficients using least-squares regression. Round your answers to 3 decimal places.
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Step 1: State the given information
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Step 2: Answer(3) Apply High-Low Method
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Step 3: Answer(4) Perform Least Square Regression Analysis using Excel
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Step 4: Answer(5) Determine how well regression analysis explains the data
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Step 5: Answer(6) Create a Linear Cost Equation
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