The Operations Manager is confronted with the following raw data, and asked you as Data Analyst to get insights from it. Apply your knowledge of regression analysis in order for you to derived the appropriate insights; and what advise can give to the Operations Manager. I Machine Number of Breakdowns 9 5 Machine Operator on Duty (Majority are) Age of Machine (in years) 12 2 F 4 4 13 11 9. 4 18 2 12 M 8. F 24 14 F
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- The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?Using multiple regression, you have identified P12,000 of unit level costs for 3,000 units, P1,000 of product level costs for 40 products, and P3,500 of customer-level costs for ten customers. The cost of Job 002 which used 800 unit level activities, 4 product level activities, and one customer-level activities amounts to * A. P3,650 B. P3,250 C. P3,050 D. P2,950d. Now based on regression analysis predict the number of patients that Dr. Fok will see in year 11 and 12 based on the forecasted Robbery Rate - year 11 is 117.1 and year 12 is 120.8. e. What is the MAD? f. What is the correlation Coefficient – r-value? % g. Based on the overall analysis, how well does each model fit the data?
- Answer the following questions 1. Calculate the slope for the regression line. (show all working) 2. Calculate the intercept for the regression line. (show all working) 3. Write the equation for the regression line 4. Forecast sales for a store if advertising spending is:-1. $240,000 2. $300,000Interpret the coefficients of your regression model. Specifically, what does the fixed component of the model mean to the consulting firm? Interpret the fixed term, b 0b0, if appropriate. Choose the correct answer below. A. It is not appropriate to interpret b 0b0, because its value is the predicted billable hours for overhead costs of 0 dollars, but the firm cannot have overhead costs of 0 dollars associated with a client. B. The value of b 0b0 is the predicted overhead costs for 0 billable hours. C. It is not appropriate to interpret b 0b0, because its value is the predicted overhead costs for 0 billable hours, but someone with 0 billable hours would not actually be a client of the firm. D. For each increase of 1 unit in billable hours, the predicted overhead costs are estimated to increase by b 0b0. E. The value of b 0b0 is the predicted billable hours for an overhead cost of 0 dollars. F. For each increase of 1 unit in…1. Problem: If a car driven 50,000 miles, how much would be the maintenance cost? 2. Use Linear Regression equation to find the maintenance cost. Show step by step calculations. 3. Also, calculate r^2 for the above model. Show step by step calculations.
- I was asking for help on question number 3 not number one 3. Refer to Problems 1 and 2. Construct a graph that will enable you to perform sensitivity analysis on the problem. Over what range of P(high) would the alternative of doing nothing be best? Expand? Subcontract?A study to determine the correlation between bankdeposits and consumer price indices in Birmingham, Alabama,revealed the following (which was based on n = 5 years of da ta):• LX = 15• Lx2 = 55• Lxy = 70• Ly = 20• L/ = 130a) What is the equation of the least-squares regression line?b) Find the coefficient of correlation. What does it imply to you?c) What is the standard error of the estimate?which of the following are charactersitics of qualitative forecasting methods? 1. Function of past data,2. Non numerical data , 3. useful when past data is avaialable , based on 4. broad range of knowledge , personal judgement, and intuition?
- Macomb Inc. used Excel to run a least-squares regression analysis on the production cost data resulting in the following output: Regression StatisticsMultiple R 0.9834 R Square 0.9596 Observations 30 Coefficients Standard Error T Stat P-ValueIntercept 174,980 61,580 2.84 0.021 Production units (X) 11.53 0.9265 12.44 0.000 What total cost would Macomb predict for a month in which production is 2,000 units? Multiple Choice $174,900 $63,433 $198,040 $23,037Sales over the past 10 years are shown below. Using the method of least squares, calculate the values of a and b to complete this regression equation. Year Sales 1 1,640 2 1,850 3 1,240 4 1,250 5 1,980 6 1,400 7 1,060 8 1,430 9 1,050 10 1,990 (Indicate a negative answer using a "-" sign. Do not round intermediate calculations and round your answer to 3 decimal places.) What is your forecast for next year's sales? (Do not round intermediate calculations and round your answer to 2 decimal places.)Given all the data and information identified, what type of analysis did you complete (i.e., quantitative/financial models used, etc.)? The case study focuses on Mr. Hans Overmayer, the marketing vice president of Motofabrikverk S.A.'s Industrial Controls Division in Zurich, Switzerland, in 1983. The company was losing money in the numerical control market because of a drop in global demand for machine tools induced by the recession and fierce competition. Background information on the company, its products, research and manufacturing, and the numerical control industry is provided in the case study. Based on the information provided, Moto appears to be a company that specializes in the production and selling of numerical controls (NCs), which are computerized devices that steer machine tools. The company entered the NC sector in 1962 and by 1983 was the third-largest commercial provider of NCs in Europe. However, Moto's Industrial Controls Division (ICD), which oversees the NC…