Magnano Inc.\'s inspection costs are listed below: Units Produced Inspection Cos
ID: 2374514 • Letter: M
Question
Magnano Inc.'s inspection costs are listed below:
Units Produced
Inspection Costs
February
927
$4579
March
948
$4645
April
968
$4701
May
911
$4538
June
958
$4676
July
894
$4475
August
974
$4760
September
878
$4412
Using the least-squares regression method, the estimate of the variable component of inspection cost per unit produced is closest to (Do not round intermediate calculations. Round your final answer to 2 decimal places.):
Using the least-squares regression method, the estimate of the fixed component of inspection cost per month is closest to (Do not round intermediate calculations.):
Units Produced
Inspection Costs
February
927
$4579
March
948
$4645
April
968
$4701
May
911
$4538
June
958
$4676
July
894
$4475
August
974
$4760
September
878
$4412
Explanation / Answer
i have done the solution in an excel sheet... if you want it i can mail it to you.. the fixed cost=$1494 and the variable component of cost per unit=$3.33
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