Carr Company reports the following data for the first six months of the year:
-Using the least-squares regression method,the estimated variable electrical cost per machine hour is closest to:
A)$0.91
B)$0.10
C)$0.20
D)$0.25

Question

Carr Company reports the following data for the first six months of the year: 
-Using the least-squares regression method,the estimated variable electrical cost per machine hour is closest to:
A)$0.91 
B)$0.10 
C)$0.20 
D)$0.25

Quizplus · Accepted Answer

Using Microsoft Excel functions,the solution is:
Variable electrical cost per machine hour = Slope = $0.10

Carr Company Reports the Following Data for the First Six