Question: Using Regression Results to Construct and Apply a Cost Formula MoGarvey Manufacturing Company had the following 12 months of data on purchasing cost and number

Using Regression Results to Construct and Apply a Cost Formula MoGarvey

Using Regression Results to Construct and Apply a Cost Formula MoGarvey Manufacturing Company had the following 12 months of data on purchasing cost and number of purchase orders. The controller for McGarvey Manufacturing ran regression on the data, and the coefficients shown by the regression program are: Intercept 15,676 (rounded to the nearest dollar) X variable 1 8.03 (rounded to the nearest cent)

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