Leno Company used regression analysis to predict the annual cost of indirect materials. The results were...

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Leno Company used regression analysis to predict the annual cost of indirect materials. The results were as follows: Indirect Materials Cost Explained by Units Produced Constant 14,885 Standard error of Y estimate 9,960 R-Squared 0.7832 No. of observations 22 Degrees of freedom 20 X Coefficient 11.75 Standard error of coefficient 2.1876 The linear cost function is. Number of units produced. where Y Total indirect materials cost and X- Leno Company used regression analysis to predict the annual cost of indirect materials. The results were as follows: Indirect Materials Cost Explained by Units Produced Constant 14,885 Standard error of Y estimate 9,960 R-Squared 0.7832 No. of observations 22 Degrees of freedom 20 X Coefficient 11.75 Standard error of coefficient 2.1876 The linear cost function is. Number of units produced. where Y Total indirect materials cost and X-

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The linear cost function is Y 14885 1175X Explanation The constant is 14885 and ... View the full answer