The new cost analyst in your accounting department has just received a computer-generated report that contains the results of a simple regression program for cost estimation.The summary results of the report appear as follows:
r2 = 0.75
Required:
a.What is the cost estimation equation according to the report?
b.What is the goodness of fit? What does it tell about the estimating equation?
Definitions:
Weighted Moving Average
A calculation that averages a set of numbers with emphasis given to certain values in the set.
Coping-skills Therapies
A form of psychotherapy that focuses on teaching individuals strategies and techniques for managing stress and coping with challenges.
Irrational Beliefs
Beliefs that are not based on reason or logical thinking and often contribute to negative emotions or behaviors.
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