Given the Partial Excel Output from a Multiple Regression, Formulate

question 59

Short Answer

Given the partial Excel output from a multiple regression, formulate the regression model.
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​ $$\begin{array} { | l | c | c | } \hline & \text { Coefficients } & \text { Standard Error } \\\hline \text { Intercept } & 37,375.357 & 3,721.625 \\\hline \mathrm { x } _ { 1 } & 55.655 & 9.370 \\\hline \mathrm { x } _ { 2 } & - 5.750 & 3.575 \\\hline \mathrm { x } 3 & 0.213 & 0.373 \\\hline\end{array}$$ ​

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Definitions:

Variable Costs

Costs that change in proportion with the level of production or sales volume, such as materials and labor.

Fixed Costs

Expenses that do not change with the level of production or sales in the short term, such as rent, salaries, and equipment leases.

Variable Costs

Expenses that fluctuate in direct proportion to the volume of production or amount of output.

Fixed Costs

Expenses that do not change in total regardless of the level of production or sales activity, such as rent or salaries.