The following information relates to total maintenance costs of machine hours used a production process for...
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The following information relates to total maintenance costs of machine hours used a production process for a period of 12 months. Month Hours used Maintenance cost (y) 1500 1950 900 900 2700 2250 1950 2100 1350 1050- 1800 1350 Using the least square method determine; Correlation coefficient 1 2 3 4 5 6 7 8 9 10 11 12 90 150. 60 30 180 150 120 180 -90 30 120 60 (i) (ii) Coefficient of determination (iii) Interpret your answer (ii) above. (5 marks) (3 marks) marks) (2 The following information relates to total maintenance costs of machine hours used a production process for a period of 12 months. Month Hours used Maintenance cost (y) 1500 1950 900 900 2700 2250 1950 2100 1350 1050- 1800 1350 Using the least square method determine; Correlation coefficient 1 2 3 4 5 6 7 8 9 10 11 12 90 150. 60 30 180 150 120 180 -90 30 120 60 (i) (ii) Coefficient of determination (iii) Interpret your answer (ii) above. (5 marks) (3 marks) marks) (2
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Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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