The manager of the main laboratory facility at Rosedale Health Center (from E6-50B) col- lects seven...

 

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The manager of the main laboratory facility at Rosedale Health Center (from E6-50B) col- lects seven additional months of data after obtaining the regression results in the prior period. The number of tests performed and the total monthly overhead costs for the lab follows: Number of Lab Tests Performed Total Laboratory Overhead Costs Month 2,900 $24,250 August .... September 3,200 $26,100 October 4,050 $30,200 .... November 4,200 $33,500 4,100 $31,400 December 2,650 $20,500 January 3,350 $27,750 February Use Excel to perform the requirements. Requirements 1. Run a regression analysis using data from August through February. 2. Determine the lab's cost equation (use the output from the regression analysis you perform using Excel). 3. Determine the R-square using the Excel output you obtain. What does the lab's R-square indicate? 4. Predict the lab's total overhead costs for the month if 2,800 tests are performed. The manager of the main laboratory facility at Rosedale Health Center (from E6-50B) col- lects seven additional months of data after obtaining the regression results in the prior period. The number of tests performed and the total monthly overhead costs for the lab follows: Number of Lab Tests Performed Total Laboratory Overhead Costs Month 2,900 $24,250 August .... September 3,200 $26,100 October 4,050 $30,200 .... November 4,200 $33,500 4,100 $31,400 December 2,650 $20,500 January 3,350 $27,750 February Use Excel to perform the requirements. Requirements 1. Run a regression analysis using data from August through February. 2. Determine the lab's cost equation (use the output from the regression analysis you perform using Excel). 3. Determine the R-square using the Excel output you obtain. What does the lab's R-square indicate? 4. Predict the lab's total overhead costs for the month if 2,800 tests are performed.

Answer rating: 100% (QA)

A C D G H K L M 1 Number of Tests Overhead Costs S24250 2900 3200 2 The labs cost equation Overhead ... View the full answer