ABC Company is exploring different prediction models that can be used to forecast indirect labor costs. Oneindependent variable under consideration is machine hours. Following are matching observations on indirectlabor costs and machine hours for the past six months:Machine hoursIndirect labor costsP20,000P24,000P17,000P22,000P13,000P14,000Month1300400240437052006225Using linear regression analysis, the estimated variable indirect labor cost per machine hour isclosest to:P35.62P15.44P52.71P58.31

Given, machine hours Indirect labor costs 300 20000 400 24000 240 17000 370 22000 200…

ABC Company is exploring different prediction models that can be used to forecast indirect labor costs. On independent variable under consideration is machine hours. Following are matching observations on indire labor costs and machine hours for the past six months: Indirect labor costs P20,000 P24,000 P17,000 P22,000 P13,000 P14,000 Month Machine hours 1 300 2 400 240 370 4 5 200 6 225 Using linear regression analysis, the estimated variable indirect labor cost per machine hour is closest to:

ABC Company is exploring different prediction models that can be used to forecast indirect labor costs. On independent variable under consideration is machine hours. Following are matching observations on indire labor costs and machine hours for the past six months: Indirect labor costs P20,000 P24,000 P17,000 P22,000 P13,000 P14,000 Month Machine hours 1 300 2 400 240 370 4 5 200 6 225 Using linear regression analysis, the estimated variable indirect labor cost per machine hour is closest to:

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter7: Distance And Approximation

Section7.3: Least Squares Approximation

Problem 31EQ

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