Compute the coefficient of determination

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Reference no: EM13940512

Following are the direct labor hours and the repair costs of Jason Corporation over a seven-week period.
Direct Labor Hours
Repair Costs
(00 omitted)
(00 omitted)
40 hours
$60
45
80
30
60
50
80
60
100
40
70
20
50
285 hours
$500
1. Separate the repair costs into the fixed and variable components by using (a)the high-low
method and (b)the method of least squares.

Compute the coefficient of determination.
Comment on the choice of direct labor hours in explaining the repair costs.

Reference no: EM13940512

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