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methods of estimating costs simple regression simple regression results from the dat 690980

Methods of Estimating Costs: Simple Regression

Simple regression results from the data of Adriana Corporation are as follows:

Equation: Overhead = $217,610 + ($88.61 × Labor hours) Statistical data


Correlation coefficient


R 2



Estimate overhead if the company expects the plant to operate at a monthly average of 3,000 laborhours next year.

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