Discuss the following Press Publishing Corporation has two major magazines: Star Life and Weekly News . The

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Question:

Discuss the following

Press Publishing Corporation has two major magazines: Star Life and Weekly News. The budgeting team needs to forecast monthly production costs for next year based on the volume of magazines produced and sold. A simple regression analysis was performed on last year's monthly data for each magazine and is reported below.

What is the total cost equation for each magazine, and how much of the cost variance is explained by the volume of magazine copies produced? (Discuss what Adjusted R Square means in the two regression analyses)

Would you rely on this regression analysis to forecast monthly production costs? Explain your answer and identify what components you are using to defend your answer