Star, Inc. used Excel to run a least-squares regression analysis, which resulted in the following output: What is Star's formula for estimating costs?
A) Total cost = $175,003 + ($11.57 × Production)
B) Total cost = $61,603 + ($0.92 × Production)
C) Total cost = $175,003 + ($61,603 × Production)
D) Total cost = $11.57 + ($0.9213 × Production)

Question

Star, Inc. used Excel to run a least-squares regression analysis, which resulted in the following output:   What is Star's formula for estimating costs?
A) Total cost = $175,003 + ($11.57 × Production) 
B) Total cost = $61,603 + ($0.92 × Production) 
C) Total cost = $175,003 + ($61,603 × Production) 
D) Total cost = $11.57 + ($0.9213 × Production)

Quizplus · Accepted Answer

The Answer of Star, Inc. used Excel to run a least-squares regression analysis, which resulted in the following output:   What is Star's formula for estimating costs?
A) Total cost = $175,003 + ($11.57 × Production) 
B) Total cost = $61,603 + ($0.92 × Production) 
C) Total cost = $175,003 + ($61,603 × Production) 
D) Total cost = $11.57 + ($0.9213 × Production)

Star, Inc Used Excel to Run a Least-Squares Regression Analysis, Which