Question: Write an equation for the cost function based on the regression analysis? The new cost analyst in your accounting department just received a computer-generated report
Write an equation for the cost function based on the regression analysis?
The new cost analyst in your accounting department just received a computer-generated report that contains the results of a simple regression analysis. He was estimating the costs of the marketing department, using units sold as the cost driver. The summary results of the report are as follows:
| Variable | Coefficient | t-statistic | p-value | |||
|---|---|---|---|---|---|---|
| Intercept | 12.44 | 1.39 | 0.25 | |||
| Units sold | 222.35 | 2.48 | 0.001 | |||
| Adjusted R-square = 0.61 |
Write an equation for the cost function based on the regression analysis. (Round entry to 2 decimal places, e.g. 15.25.)
(please help solve this here) Cost formula: Total Cost = $_______________ x units sold
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