Which regression equation is the best

Reference no: EM133655467

Required:

Question: Separate overhead into fixed and variable components using regression analysis. Run seven regressions by using different combinations of three independent variables: number of setups, machine hours, and indirect labor hours. These seven regressions
are:

a) three simple regressions;

b) three multiple regressions using two independent variables;

c) multiple regression using all independent variables.

Which regression equation is the best? Why?

Reference no: EM133655467

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