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Leno Company Used Regression Analysis to Predict the Annual Cost

question 64

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Leno Company used regression analysis to predict the annual cost of indirect materials.The results were as follows:
 Indirect Materials Cost  Explained by Units Produced  Constant 14,885 Standard error of Y estimate 9,960 R-Squared 0.7832 No. of observations 22 Degrees of freedom 20 X Coefficient 11.75 Standarderror of coefficient 2.1876\begin{array}{ll}&\text { Indirect Materials Cost }\\&\text { Explained by Units Produced }\\\text { Constant } & 14,885 \\\text { Standard error of } Y \text { estimate } & 9,960 \\\text { R-Squared } & 0.7832 \\\text { No. of observations } & 22 \\\text { Degrees of freedom } & 20 \\\text { X Coefficient } & 11.75 \\\text { Standarderror of coefficient } & 2.1876\end{array}
The linear cost function is ________ where Y = Total indirect materials cost and X = Number of units produced.

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