Requlred InformatlonThe Hard Rock MIining Company Is developing cost formulas for management planning and decision-makıng purposes.The company's cost analyst has concluded that utilitles cost Is a mixed cost, and he Is attempting to find a base thatcorrelates with the cost. The controller has suggested that tons mined might be a good base to use in developing a costformula. The production superintendent disagrees; she thinks that direct labor-hours would be a better base. The costanalyst has decided to try both bases and has assembled the following information:Direct Labor-utilitiesQuarterTons MinedHoursCostYear 1:5,7003,7004,7006,700$ 57,000$ 52,000$ 67,000$ 82,000FirstSecondThirdFourth22, 00015,00027,00019,000Year 2:First25,00032,e0037,00035,00011,40011,1009,40012,400$ 107,000$ 112,000$ 92,000$ 127,000SecondThirdFourthRequlred:1. Using the least-squares regression method, estimate the varlable utilities cost per ton mined and the total fixed utilitlies cost perquarter. Express these estimates in the form Y = a + bX. (Round the Varlable cost per unit to 2 decimal places and Flxed Cost to thenearest whole dollar amount.)Y = Requlred InformatlonThe Hard Rock MIining Company Is developing cost formulas for management planning and decision-making purposes.The company's cost analyst has concluded that utilities cost is a mixed cost, and he is attempting to find a base thatcorrelates with the cost. The controller has suggested that tons mined might be a good base to use in developing a costformula. The production superintendent disagrees; she thinks that direct labor-hours would be a better base. The costanalyst has decided to try both bases and has assembled the following information:Direct Labor- utilitiesQuarterTons MinedHoursCostYear 1:$ 57,000$ 52,000$ 67,000$ 82,000First22,00015,00027,00019,0005,7003,7004,7006,700SecondThirdFourthYear 2:First25,00032, eee37,00035,00011,40011,1009,40012,400$ 107,000$ 112,000$ 92,000$ 127,000SecondThirdFourth2. Using the least-squares regresslon method, estimate the varlable utlitles cost per direct labor-hour and the total fixed utilities costper quarter. Express these estimates In the form Y = a + bx. (Round the Varlable cost to 2 decimal places and Flxed Cost to thenearest whole dollar amount.)Y%D

1) Here Independent variable = Tones mined Dependent variable = Utilities Cost The following data…

Requlred: 1. Using the least-squares regression method, estimate the variable utilities cost per ton mined and the total fixed utilities cost per quarter. Express these estimates in the form Y = a + bX. (Round the Varlable cost per unlt to 2 decimal places and Flxed Cost to the nearest whole dollar amount.)

Requlred: 1. Using the least-squares regression method, estimate the variable utilities cost per ton mined and the total fixed utilities cost per quarter. Express these estimates in the form Y = a + bX. (Round the Varlable cost per unlt to 2 decimal places and Flxed Cost to the nearest whole dollar amount.)

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter6: Systems Of Equations And Inequalities

Section: Chapter Questions

Problem 17PS: Cholesterol Cholesterol in human blood is necessary, but too much can lead to health problems. There...

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