Solution-Identify the dependent variable and the

Identify the dependent variable and the independent variable

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Reference no: EM133109905

Question - Bloomer asked the controller to regressions to assist in predicting overhead cost in the machining department. The regression was based on overhead cost and machine hours. The results are summarized below:

Regression results:

Regression Statistics
Multiple R	0.985174323
R Square	0.970568447
Adjusted R Square	0.96923065
Standard Error	1010.593596
Observations	24

	Coefficients	Standard Error	t Stat
Intercept	33310.56193	1848.05412	18.024668
MHs	112.6582381	4.18258828	26.9350533

Required - Using the information in the tables above,

a. Identify the dependent variable and the Independent variable. Formulate the regression equation.

b. Identify VC per unit. Do you believe that the b-coefficient is significant?

c. Do you believe the relationship between dependent and independent variables is economically plausible why or Why not? Explain. Do you believe that the independent variable has a good explanatory power? Explain why?

Reference no: EM133109905

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Identify the dependent variable and the independent variable

Reference no: EM133109905

Reference no: EM133109905

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