Leslie Sporting Goods is a locally owned store that specializes
Leslie Sporting Goods is a locally owned store that specializes in printing team jerseys. The majority of its business comes from orders for various local teams and organizations. While Leslie’s prints everything from bowling team jerseys to fraternity/sorority apparel to special event shirts, summer league baseball and softball team jerseys are the company’s biggest source of revenue. A portion of Leslie’s operating information for the company’s last year follows:
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Required:
1. Prepare a scatter graph of Leslie’s operating cost and draw the line you believe best fits the data.
2. Based on this graph, estimate Leslie’s total fixed costs per month.
3. Using the high-low method, calculate the store’s total fixed operating costs and variable operating cost per jersey.
4. Using the high-low method results, calculate the store’s expected operating cost if it printed 480 jerseys.
5. Perform a least-squares regression analysis on Leslie’s data.
6. Using the regression output, create a linear equation (y = a + bx) for estimating Leslie’s operating costs.
7. Using the least-squares regression results, calculate the store’s expected operating cost if it prints 625jerseys.
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