Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the following information on maintenance and repai

The following information on maintenance and repair costs and revenues for the last two years...

50.1K

Verified Solution

Question

Accounting

The following information on maintenance and repair costs and revenues for the last two years is available from the accounting records at Arnies Arcade & Video Palace. Arnie has asked you to help him understand the relation between business volume and maintenance and repair cost.

Month Maintenance and Repair Cost ($000) Revenues ($000)
July $2.26 $58.00
August 3.23 52.00
September 2.75 48.00
October 2.16 64.00
November 2.25 76.00
December 1.09 104.00
January 3.07 44.00
February 3.11 50.00
March 2.97 60.00
April 2.93 62.00
May 1.99 66.00
June 1.73 78.00
July 2.55 72.00
August 1.97 66.00
September 2.52 74.00
October 2.33 76.00
November 1.38 86.00
December 0.71 116.00
January 2.53 60.00
February 2.23 62.00
March 1.64 82.00
April 1.90 86.00
May 1.90 72.00
June 1.36 68.00

Required:

Using Excel, estimate a linear regression with maintenance and repair cost as the dependent variable and revenue as the independent variable. (Negative amounts should be indicated by a minus sign. Round "Multiple R, R Square and Standard Error" to 7 decimal places, "Intercept and Revenues" to 4 decimal places.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students