Exercise 3-35 Name:
Fill in the correct data in columns C and F. Then run a
regression in Excel. The word “wrong” will appear when
incorrect data is input except for the formula because
formats may vary. Excel may have different answers than the
solution manual due to the precision of Excel.
200 300$
325 440$
400 480$
410 490$
525 620$
680 790$
820 840$
900 900$
SUMMARY OUTPUT
Regression Statistics
Multiple R 0.99211413
R Square 0.98429044
Adjusted R Square
0.98167218
Standard Error 29.2044203
Observations 8
ANOVA
df SS MS
Regression 1 320632.611 320632.611
Residual 6 5117.389006 852.898168
Total 7 325750
Coefficients
Standard Error
t Stat
Intercept 145.362051 25.97542476 5.59613758
X Variable 1 0.86786469 0.044760689 19.3889931
Utility Cost Budgeting Formula
Y = a + bX
Y = $145.36 + $0.8679 MH
Machine Hours
Utility Cost
Solution
Significance F
Lower 95.0%
Upper 95.0%