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Home Q & A Board Other Fields Homework Help Business Accounting
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jerico jerico
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Posts: 4603
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9 years ago
The new cost analyst in your accounting department has just received a computer-generated report that contains the results of a simple regression program for cost estimation. The summary results of the report appear as follows:

   Variable   Coefficient   Standard Error   t-Value
   Constant   $74.79   $16.82   4.45
   Independent variable   $1,081.76   $215.67   5.02
   r2 = 0.75

Required:
a.   What is the cost estimation equation according to the report?
b.   What is the goodness of fit? What does it tell about the estimating equation?
Textbook 
Cost Accounting

Cost Accounting


Edition: 14th
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cyborgcyborg
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9 years ago
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jerico Author
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#2
9 years ago
I can confidently say that it looks and sounds right lol Thank you Slight Smile Give this man a thumbs up.
wrote...
#3
9 years ago
I'm happy to help you, how luck with the others, I noticed you've posted a lot of questions.
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