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Methods of estimating costs-simple regression

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Methods of Estimating Costs: Simple Regression

Simple reression results from the data of Adriana Corporation  are as follows:

Equation: Overhead =$206,469 + ($45.83 × Machine-hours) Statistical data

 

Correlation coefficient

.962

R 2 .

.925

Required

Estimate overhead if the company expects the plant to operate at a monthly average of 9,000 machine-hours next year.

Reference no: EM13554469

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