The manager of Jones Petro is analyzing the relationship between operating costs, the dependent variable, and...
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The manager of Jones Petro is analyzing the relationship between operating costs, the dependent variable, and gallons of gasoline sold, the independent variable. Analyzing data for several months with a spreadsheet software package and a personal computer, she obtained the following results: Regression Output: Constant Std Err of Y Est R Squared No. of Observations Degrees of Freedom c. d. X Coefficient Std Err or Coef. 2700 650.489 0.624956 10 8 1.21 0.558301 Required a. How many months were included in the analysis? b. What percent of the variation in the dependent variable is explained by the cost- estimating equation? Predict total operating costs for a month in which 20,000 gallons are sold. Mention some questions you would like answered before using the prediction de- veloped in requirement (c). The manager of Jones Petro is analyzing the relationship between operating costs, the dependent variable, and gallons of gasoline sold, the independent variable. Analyzing data for several months with a spreadsheet software package and a personal computer, she obtained the following results: Regression Output: Constant Std Err of Y Est R Squared No. of Observations Degrees of Freedom c. d. X Coefficient Std Err or Coef. 2700 650.489 0.624956 10 8 1.21 0.558301 Required a. How many months were included in the analysis? b. What percent of the variation in the dependent variable is explained by the cost- estimating equation? Predict total operating costs for a month in which 20,000 gallons are sold. Mention some questions you would like answered before using the prediction de- veloped in requirement (c).
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Question A How many months were included in the analysis There were 10 months included in the analys... View the full answer
Related Book For
Essentials of Business Analytics
ISBN: 978-1285187273
1st edition
Authors: Jeffrey Camm, James Cochran, Michael Fry, Jeffrey Ohlmann, David Anderson, Dennis Sweeney, Thomas Williams
Posted Date:
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