A company has observed that there is a linear relationship between indirect labor expense (ILE) , in ...

A company has observed that there is a linear relationship between indirect labor expense (ILE) , in dollars, and direct labor hours (DLH). Data for direct labor hours and indirect labor expense for 18 months are given in the file ILE_and_DLH.xlsx

Treating ILE as the response variable, use regression to fit a straight line to all 18 data points.

Approximately what percentage of the variation in indirect labor expenses is explained by the regression model you derived?

Place your answer, rounded to 1 decimal place, in the blank.  Do not use any stray punctuation marks or a percentage sign.  For example, 78.9 would be a legitimate entry. 

Post Merge: 7 years ago

ILE_and_DLH.xlsx data

DLH(X)   ILE(Y)
20   361
25   400
22   376
23   384
20   361
19   360
24   427.2
28   458.4
26   450.8
29   475.2
27   462.6
25   445
28   511
32   550.8
35   587.8
34   574.1
30   535.4
36   591.5