A company has observed that there is a linear relationship

Reference no: EM13627783

A company has observed that there is a linear relationship between indirect labor expense (ILE) , in dollars, and direct labor hours (DLH). Data for direct labor hours and indirect labor expense for 18 months are given in the file ILE_and_DLH.xlsx

Treating ILE as the response variable, use regression to fit a straight line to all 18 data points.

Approximately what percentage of the variation in indirect labor expenses is explained by the regression model you derived?

Reference no: EM13627783

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