The following excerpt from a regression analysis report describes the relationship between a production cost...
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Accounting
The following excerpt from a regression analysis report describes the relationship between a production cost for Myers Industries, Inc. and labor hours:
Regression Statistics
- R-Sq. = 0.228
- Std. Error = 36.627
- Observations = 1 2
Coefficients
- Intercept = 17,537.116
- Labor Hrs = 80.576
What are the total expected production costs if the level of activity is 1,000 labor hours?
| $98,113 | ||
| $80,576 | ||
| $36,627 | ||
| $17,537 |
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