Terry Smith Corporation used the regression method to obtain the following outpu
ID: 2462628 • Letter: T
Question
Terry Smith Corporation used the regression method to obtain the following output:
Personnel Department Cost
Explained by Number of
Employees
Constant
$5,800
Standard error of Y estimate
$630
R - squared
0.8924
No. of observations
20
Degrees of freedom
18
X coefficient(s)
1.902
Standard error of coefficient(s)
0.0966
What is the variable cost per employee?
Personnel Department Cost
Explained by Number of
Employees
Constant
$5,800
Standard error of Y estimate
$630
R - squared
0.8924
No. of observations
20
Degrees of freedom
18
X coefficient(s)
1.902
Standard error of coefficient(s)
0.0966
Explanation / Answer
What is the variable cost per employee?
The variable cost per employee is the X coefficient of $1.902.
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