Question: Assume that Rick's Golden Pancake Restaurant does a regression analysis on the next year's data using Excel. The output generated by Excel is as follows:

Assume that Rick's Golden Pancake Restaurant does a regression analysis on the next year's data using Excel. The output generated by Excel is as follows:
Assume that Rick's Golden Pancake Restaurant does a regression analysis

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?

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

Step by Step Solution

3.65 Rating (159 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Req 1 The fixed cost per month is 178... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

1112-B-M-A-C-B(1407).docx

120 KBs Word File

Students Have Also Explored These Related Managerial Accounting Questions!