The Oneida Caterings production division processes the data from the companys records The Oneida Catering costs are used by Meals and Jobs The following regression output is obtained when costs are regressed on the two independent variables (meals and Jobs) mentioned The coefficients are in dollars SUMMARY OUTPUT Regression Statistics Multiple R 0 902271197 R Square 0 814093312 Adjusted R Square 0 785492284 Standard Error 1172 86924 Observations 16 ANOVA df SS MS F Significance F Regression 2 78310810 68 39155405 28 46378 1 78E 05 Residual 13 17883089 32 1375622 3 Total 15 96193900 Coefficients Standard Error t Stat P value Intercept 1720 355196 1871 209693 0 9193813 0 374641 Meals 3 04202908 0 422479141 7 2004243 6 94E 06 Jobs 4 379687014 54 83905457 0 0798644 0 937561 a Write down the estimated Oneida Catering costs equation using the regression information b Determine the estimated Oneida Catering costs on Meals for 1,200 units and Jobs for 30 units

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Question: The Oneida Caterings production division processes the data from the companys records. The Oneida Catering costs are used by Meals and Jobs. The following regression

The Oneida Caterings production division processes the data from the companys records. The Oneida Catering costs are used by Meals and Jobs. The following regression output is obtained when costs are regressed on the two independent variables (meals and Jobs) mentioned.

The coefficients are in dollars.

SUMMARY OUTPUT

Regression Statistics
Multiple R	0.902271197
R Square	0.814093312
Adjusted R Square	0.785492284
Standard Error	1172.86924
Observations	16

ANOVA
	df	SS	MS	F	Significance F
Regression	2	78310810.68	39155405	28.46378	1.78E-05
Residual	13	17883089.32	1375622.3
Total	15	96193900

	Coefficients	Standard Error	t Stat	P-value
Intercept	1720.355196	1871.209693	0.9193813	0.374641
Meals	3.04202908	0.422479141	7.2004243	6.94E-06
Jobs	4.379687014	54.83905457	0.0798644	0.937561

a. Write down the estimated Oneida Catering costs equation using the regression information.

b. Determine the estimated Oneida Catering costs on Meals for 1,200 units and Jobs for 30 units.

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