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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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