Assume that Kents Tulip Time does a regression analysis on the next years data using Excel 2007.
Question:
Requirement
1. Determine the firms cost equation (use the output from the Excel regression).
2. Determine the R-square (use the output from the Excel regression). What does Tulip Times R-square indicate?
3. Predict van operating costs at a volume of 15,500 kilometres.
Transcribed Image Text:
Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 0.85 0.72 0.66 205.01 ANOVA af MS Significance F 0.0158 Regression Residual Total 539222.81 539222.81 210148.62 42029.72 749371.43 12.83 5 6 Lower 95.0% Upper 95.0% 2704.12 4061.65 -2704.12 4061.65 0.51 Lower Upper 95% Coefficients 678.76 0.29 Standard Error 1316.00 0.08 t Stat 0.52 3.58 P-value 0.63 0.02 95% Intercept X Variable 1 0.08 0.51 0.08
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Req 1 Based on the Excel output Tulip Times van operating cost equatio...View the full answer
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Managerial Accounting
ISBN: 978-0176223311
1st Canadian Edition
Authors: Karen Wilken Braun, Wendy Tietz, Walter Harrison, Rhonda Pyp
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