Curry Rubber manufactures rubber bands for commercial retail companies. The accounting manager has created a regression analysis

Question:

Curry Rubber manufactures rubber bands for commercial retail companies. The accounting manager has created a regression analysis of past data. You notice that the formula has an R - squared of .6, a t-value of 2.3, and a standard error of the estimate of $200,000. The estimate for next quarter costs is $2,584,072. What do these statistics tell you about the reliability of his regression analysis?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Cost management a strategic approach

ISBN: 978-0073526942

5th edition

Authors: Edward J. Blocher, David E. Stout, Gary Cokins

Question Posted: