Assume that Rick's Golden Pancake Restaurant does a regression analysis on the next year's data using Excel.
Question:
Requirements
1. What is the fixed cost per month?
2. What is the variable cost per pancake?
3. If Rick's Golden Pancake Restaurant serves 3,800 pancakes in a month, what would the company's total operating costs be?
Transcribed Image Text:
1 SUMMARY OUTPUT Regression Statistics Multiple R 0.88 0.83 0.78 107.42 6 Adjusted R Square 7 Standard Eror 8 Observations 10 ANOVA MS 4.01 13,643.22 13,643.22 46,156.78 11,539.19 59.800.00 0.02 13 Residual 14 Total 15 Lower 95% UpperLower Upper 95.0% Coefficients Standard Error 574.41 0.16 P-value 0.04 0.34 t Stat 95.0% 16 17 Intercept 18 XVariable 1 95% 192.40 3,382.06 1.787.23 0.17 3.11 1.09 192.403,382.06 0.26 0.60 0.26 0.60
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