Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. valle crucis corporation wanted to determine the r

Valle Crucis Corporation wanted to determine the relationship between its monthly operating costs and a...

90.2K

Verified Solution

Question

Accounting

image
image
Valle Crucis Corporation wanted to determine the relationship between its monthly operating costs and a potential cost driver, machine hours. The output of a regression analysis showed the following information (note: only a portion of the regression analysis results is presented here): (Click the icon to view the portion of the regression analysis.) What is the variable cost per machine hour (rounded to the nearest cent)? A. $0.99 B. $67.59 C. $2,945,95 D. $0.72 \begin{tabular}{lr} Multiple R & 0.991108748 \\ R Square & 0.982296551 \\ Adjusted R & 0.977870689 \\ Square & 67.58593536 \\ Standard Error & 6 \\ \hline \end{tabular} ANOVA \begin{tabular}{lrrrrr} \hline & Coefficients & Standard Error & tStat & P-value & \multicolumn{1}{c}{ Lower 95\% } \\ \hline Intercept & 2945.94652 & 194.105844 & 15.17701095 & 0.000109885 & 2407.022299 \\ X Variable 1 & 0.718590832 & 0.04823467 & 14.89780767 & 0.00011823 & 0.584669919 \\ \hline \end{tabular}

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