Question: Interpreting Regression ResultsMultiple Regression: Multiple regression results from the data of Racy Motors Company (exercise 10-19) are as follows: Assume that management predicts the materials

Interpreting Regression Results—Multiple Regression: Multiple regression results from the data of Racy Motors Company (exercise 10-19) are as follows:

Equation: Overhead $694.24 + $9.1840 x machine-hours + .47833 x materials cost

Assume that management predicts the materials cost to be $5,150 and machinehours to be 200 for the coming period.

Required: Use the multiple regression results to prepare an estimate of overhead costs for the coming period.

Equation: Overhead $694.24 + $9.1840 x machine-hours + .47833 x materials cost Statistical data: Correlation coefficient R-squared .935 .874

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