Refer to the Holiday Inn scatter plot in S6-11. 1. Would the high- low method or regression
Question:
1. Would the high- low method or regression analysis result in a more accurate cost equation for the data pictured in the scatter plot? Explain.
2. A regression analysis of the data revealed an R- square figure of 0.939. Interpret this figure in light of the lowest and highest possible R- square values.
3. As a manager, would you be confident predicting utilities costs for other room- night volumes within the same relevant range?
In S6-11.
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1 Generally speaking regression analysis results in more accurate cost equations than does the highl...View the full answer
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