Question: The manager of the main laboratory facility at MetroFit Center

The manager of the main laboratory facility at MetroFit Center (from E6-49B) collects seven additional months of data after obtaining the regression results in the prior period. The number of tests performed and the total monthly overhead costs for the lab follows:


Use Excel to perform the requirements.

Requirements
1. Run a regression analysis.
2. Determine the lab’s cost equation (use the output from the regression analysis you perform using Excel).
3. Determine the R- square using the Excel output you obtain. What does the lab’s R- square indicate?
4. Predict the lab’s total overhead costs for the month if 3,000 tests areperformed.
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  • CreatedAugust 27, 2014
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