Midose's Stables used two different independent variables (trainer hours and number of horses) in two different equations to evaluate the cost of training horses.The most recent results of the two regressions are as follows: Trainer's hours:
Number of horses:
What is the estimated total cost for the coming year if 15,000 trainer hours are incurred and the stable has 350 horses to be trained,based upon the best cost driver?
A) $96,327.90
B) $338,258.95
C) $345,854.65
D) $14,277,440.95
Correct Answer:
Verified
Q170: Data collection problems can arise when extreme
Q173: A major concern that arises with multiple
Q174: Which of the following is a step
Q177: The ideal database for estimating cost functions
Q182: The t-value of a coefficient measures how
Q184: Corise's Cola was to manufacture 500
Q184: Generally a coefficient of determination (r2)of 0.30
Q185: The new cost analyst in your
Q186: The coefficient of determination (r2)measures the percentage
Q186: Multicollinearity exists in multiple regression when two
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents