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Category > Management Posted 08 Feb 2018 My Price 8.00

indirect labor expense

A company has observed that there is a linear relationship between indirect labor expense (ILE) , in dollars, and direct labor hours (DLH). Data for direct labor hours and indirect labor expense for 18 months are given in the file ILE_and_DLH.xlsx

DLH(X) ILE(Y)
20 361
25 400
22 376
23 384
20 361
19 360
24 427.2
28 458.4
26 450.8
29 475.2
27 462.6
25 445
28 511
32 550.8
35 587.8
34 574.1
30 535.4
36

591.5

Treating ILE as the response variable, use regression to fit a straight line to all 18 data points.

Approximately what percentage of the variation in indirect labor expenses is explained by the regression model you derived?

Place your answer, rounded to 1 decimal place, in the blank. Do not use any stray punctuation marks or a percentage sign. For example, 78.9 would be a legitimate entry.

 

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Maurice Tutor
(5)
Status NEW Posted 08 Feb 2018 10:02 PM My Price 8.00

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