The Pacioli Manufacturing Company has kept track of the number of units they have produced each month and the cost to produce those units for the past 6 months. Using regression determine the cost estimation equation and the R² for the equation.If Pacioli expects to produce 14,000 units in January what cost should Pacioli budget for? How does the R² help when forecasting cost and what impact does this R² have on this estimate?

Question

Quizplus · Accepted Answer

The Answer of The Pacioli Manufacturing Company has kept track of the number of units they have produced each month and the cost to produce those units for the past 6 months. Using regression determine the cost estimation equation and the R² for the equation.If Pacioli expects to produce 14,000 units in January what cost should Pacioli budget for? How does the R² help when forecasting cost and what impact does this R² have on this estimate?

The Pacioli Manufacturing Company Has Kept Track of the Number