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jerico jerico
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Posts: 4603
Rep: 8 0
9 years ago
Degen Company used least squares regression analysis to obtain the following output:

   Payroll Department Cost
   Explained by Number of Employees
   Constant   $7,540
   Standard error of Y estimate   819
   r2   0.8924
   Number of observations   20

   X coefficient(s)   $2.473
   Standard error of coefficient(s)   0.0966

Required:
a.   What is the total fixed cost?
b.   What is the variable cost per employee?
c.   Prepare the linear cost function.
d.   What is the coefficient of determination? Comment on the goodness of fit.
Textbook 
Cost Accounting

Cost Accounting


Edition: 14th
Authors:
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cyborgcyborg
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Posts: 4566
9 years ago
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jerico Author
wrote...
9 years ago
Thank you for the help. I took this course as an elective, glad it's over in three weeks. Great textbook though!
wrote...
9 years ago
Sweet, you're welcome.
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