answer in detail describe each and every step strictly no copy paste need correct answer Appendix; Least squares regressionWyoming Wholesale has gathered the following data on the number of shipments received and the cost of receiving reports for the first seven weeks of the year.Number of Shipments Received Weekly Cost of Receiving Reports$245227216199259280283Note: When answering the following questions, round your answers to two decimal places.70625649748184a. Using the least squares method, develop the equation for predicting weekly receiving report costs based on the number of shipments received.y = $ 76.71*+$2.46(# of shipments)b. What is the predicted amount of receiving report costs for a month (assume a month is exactly four weeks) in which 231 shipments are received? $ 645.49X

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is the predicted amount of receiving report costs for a month (assume a month is exactly four weeks) in which 231 shipments are received? $ 645.49

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 8PB: The following select financial statement information from Vortex Computing. Compute the accounts...

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Concept explainers

Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.

Question

answer in detail describe each and every step strictly no copy paste need correct answer

Appendix; Least squares regression
Wyoming Wholesale has gathered the following data on the number of shipments received and the cost of receiving reports for the first seven weeks of the year.
Number of Shipments Received Weekly Cost of Receiving Reports
$245
227
216
199
259
280
283
Note: When answering the following questions, round your answers to two decimal places.
70
62
56
49
74
81
84
a. Using the least squares method, develop the equation for predicting weekly receiving report costs based on the number of shipments received.
y = $ 76.71
*+$2.46
(# of shipments)
b. What is the predicted amount of receiving report costs for a month (assume a month is exactly four weeks) in which 231 shipments are received? $ 645.49
X

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