Coefficients shown by a regression program are:
$$\begin{array} { l l }
\text { Intercept } & 7,600 \
\mathrm { X } \text { Variable 1 } & 5.10
\end{array}$$ Required:
A. Using the results of regression, calculate the fixed cost of maintenance and the variable rate per machine hour.
B. Using the results of regression, construct the cost formula for the total maintenance cost.
C. Calculate the budgeted cost for maintenance assuming that 610 hours are worked next month.

Question

Coefficients shown by a regression program are: 
$$\begin{array} { l l } 
\text { Intercept } & 7,600 \
\mathrm { X } \text { Variable 1 } & 5.10
\end{array}$$ Required: 
A.	Using the results of regression, calculate the fixed cost of maintenance and the variable rate per machine hour.
B.	Using the results of regression, construct the cost formula for the total maintenance cost.
C.	Calculate the budgeted cost for maintenance assuming that 610 hours are worked next month.

Quizplus · Accepted Answer

The Answer of Coefficients shown by a regression program are: 
$$\begin{array} { l l } 
\text { Intercept } & 7,600 \
\mathrm { X } \text { Variable 1 } & 5.10
\end{array}$$ Required: 
A.	Using the results of regression, calculate the fixed cost of maintenance and the variable rate per machine hour.
B.	Using the results of regression, construct the cost formula for the total maintenance cost.
C.	Calculate the budgeted cost for maintenance assuming that 610 hours are worked next month.

Coefficients Shown by a Regression Program Are Intercept 7,600X Variable 1 5.10\begin{array} { l l } \text { Intercept } & 7,600 \\\mathrm { X } \text { Variable 1 } & 5.10\end{array} Intercept X Variable 1 ​7,6005.10​

Coefficients Shown by a Regression Program Are $\begin{array} { l l } \text { Intercept } & 7,600 \\\mathrm { X } \text { Variable 1 } & 5.10\end{array}$