Unik Ltd., a leading manufacturer of ceramic tiles is preparing its cost estimation for the master budget. A cost accountant has derived the following data...

      

Unik Ltd., a leading manufacturer of ceramic tiles is preparing its cost estimation for the master budget. A cost accountant has derived the following data on a weekly output of standard size tiles from a factory.
Week output Total overheads
Units "000" Sh. "000"
1 20 60
2 2 25
3 4 26
4 23 66
5 18 49
6 14 48
7 10 35
8 8 18
9 13 40
10 8 33
Where:
∑X= 120 ∑Y= 400 ∑X2= 1,866 ∑Y2= 18,200 ∑XY= 5,704

Required:
(i) Using the least squares regression method, formulate a predictor equation in the form of y = a + bx.
(ii) In week II, the factory planned to produce 25,000 standard size tiles. Estimate the total cost of producing thus quantity.

  

Answers

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francis1897 answered the question on November 14, 2022 at 07:42

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