Question: Interpreting Regression Results-Simple Regression: Simple regression results from the data of Racy Motors Company (exercise 10-19) are as follows: Required: Prepare an estimate of overhead

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

Equation: Overhead = $348.17+ ($24.298 x machine-hours) Statistical data: Correlation coefficient R-squared

Required: Prepare an estimate of overhead if the company expects to use 200 machine-hours for the next period and costs are stable.

Equation: Overhead = $348.17+ ($24.298 x machine-hours) Statistical data: Correlation coefficient R-squared .904 .818

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