Solved

The Eastwood Company Used Regression Analysis to Predict the Annual

Question 121

Multiple Choice

The Eastwood Company used regression analysis to predict the annual cost of utilities. The results were as follows: Utilities Cost
Explained by Direct Labor Hours
 Constant $9,650 Standard error of Y estimate $875.20 R - squared 0.8650 No. of observations 33 Degrees of freedom 31 X coefficients)  4.937 Standard error of coefficients)  0.997\begin{array} { l r } \text { Constant } & \$ 9,650 \\ \text { Standard error of Y estimate } & \$ 875.20 \\ \text { R - squared } & 0.8650 \\ \text { No. of observations } & 33 \\ \text { Degrees of freedom } & 31 \\ & \\ \text { X coefficients) } & 4.937 \\ \text { Standard error of coefficients) } & 0.997 \end{array} The variable cost per direct labor hour is _____.


A) $875.20
B) $0.865
C) $4.937
D) $0.997

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents