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What is the variable cost per employee

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Reference no: EM132825235

Question - Regression Analysis Mercer Company used least squares regression analysis to obtain the following output:

Payroll Department Cost (Y)

Explained by Number of Employees (X)

Constant $5,800

Standard error of Y estimate 630

r2 0.8924

Number of observations 20

X coefficient(s) 1.902

Standard error of coefficient(s) 0.0966

Required -

a. What is the total fixed cost?

b. What is the variable cost per employee?

c. What is the cost equation?

d. What is the coefficient of determination? Is this a good equation?

Reference no: EM132825235

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