Exercise AAlgo LeastSquares Regression LO
George Caloz & Frres located in Grenchen, Switzerland, makes luxury custom watches in small lots. One of the company's products, a platinum diving watch, goes through an etching process. The company has recorded etching costs as follows over the last six weeks:
tableWeekUnits,tableTotalCtableEtchingCost&a$
For planning purposes, management would like to know the variable etching cost per unit and the total fixed etching cost per week.
Exercise A Part Algo
a Using the leastsquares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week.
b Express these estimates in the form
Complete this question by entering your answers in the tabs below.
Req
Using the leastsquares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week. Round your answers to decimal places.
Fixed etching cost per week
Variable etching cost per unit
