Dunkirk Consulting wishes to predict the amount of overhead expense that will be incurred by a consulting
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Question:
Dunkirk Consulting wishes to predict the amount of overhead expense that will be incurred by a consulting contract, to develop more accurate bids for future contracts. Dunkirk has the following data on 6 completed contracts, detailing how long the project took to complete and what the exact overhead expense was:
a) Using linear regression, develop a regression formula for predicting overhead expense, based on the duration of the project.
b) What does linear regression suggest about the overhead expense of a future project that is expected to be 200 days long?
Related Book For
An introduction to management science quantitative approaches to decision making
ISBN: 978-1111532222
13th edition
Authors: David Anderson, Dennis Sweeney, Thomas Williams, Jeffrey Cam
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