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MULTIPLE REGRESSION
The least square regression equation discussed above was based on the assumption that total cost was determined by only one activity based variable. However, other variables are likely to affect labour costs such as labour hours, material costs, machine hours, etc. These may have an effect on labour costs.
The equation for the simple regression can be expanded to include more than one independent variable as shown below:
Y = a + b1X1 + b2 X2 + b3 X3 +………+bn Xn
For two independent variables, the function will be of the form:
Y = a + b1X1 + b2 X2
The normal equations can be given by:∑y = na + b1 ∑X1 + b2∑x2∑X1Y = a∑x1 + b1∑X12 + b2 ∑X1 ∑X2∑X2 Y = a∑x2 + b1∑ X 1∑X2 +b2 ∑X2 Normally computers are used for the solution of multiple regression.
limitation
Vogel's Approximation Method (VAM) This method is a heuristic and usually provides a better starting solution than the two methods described above. However, VAM generally yield
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I only need the formulas in excel put in.
advantage and disadvantage of incremental budget
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what are the factors should be considered before terminated the operation of a losing firm??
I am part of a marketing group, and we are working on a project for a local cable company,they currently serve 3,200 customers and sell 50 wireless boxes a month,what I need to do
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Ordering Costs These are incurred in getting purchased items into the company’s inventory or stores, and usually consist of clerical costs of: • Making the purchase demand.
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