Kristoff Ltd.has accumulated the following data for the year regarding its factory overhead costs: 
a.Using the least squares regression method and Microsoft Excel,determine the variable and fixed cost elements (SLOPE and INTERCEPT)and the RSQ.
b.What does the RSQ mean in this case.
c.Use the results to prepare a flexible budget at volumes of 2,800;3,000 and 3,200 units.Round to the nearest dollar.
Definitions:
Power Curve
A graphical representation used in statistics to show the probability of rejecting the null hypothesis at various effect sizes.
Power of the Test
The probability that a statistical test will correctly reject a false null hypothesis, indicating the test's ability to detect an effect when there is one.
Confidence Interval Estimate
A range of values derived from sample statistics that is likely to contain the value of an unknown population parameter, with a certain level of confidence.
99%
Often refers to a confidence level in statistics, indicating that there is a 99% chance the results fall within a specified range.
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