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Compute the coefficient of determination

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Reference no: EM13512946

Assume that six monthly observations of indirect manufacturing costs y and machine hours x are to be used as a basis for developing the cost-volume formula y'= a + bx. The sums are available as

Xx= 570 Xy = 3,785 Zxy = 364,000 Ex2 = 55,000 Zy2= 2,413,925

(a) Determine the fixed cost and the variable rate using the method of least squares.

(b) Compute the coefficient of determination.

Reference no: EM13512946

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