# Cost Estimation, Regression Analysis Plantcity is a large nursery and retail store specializing…

Cost Estimation, Regression Analysis Plantcity is a large nursery and retail store specializing in house and garden plants and supplies. Jean Raouth, the assistant manager, is in the process of budgeting monthly supplies expense for 2010. She assumes that in some way supplies expense is related to sales, either in units or in dollars. She has collected these data for sales and supplies expenses for June 2007 through December 2009, and has estimated sales for 2010:

 Date Supplies Expense Sales Units Sales Dollars Jun 2007 \$2,745 354 \$2,009 Jul 3,200 436 2,190 Aug 3,232 525 2,878 Sep 2,199 1 45 1,856 Oct 2,321 199 2,168 Nov 3,432 543 2,152 Dec 4,278 1,189 2,463 Jan 2008 2,310 212 1,999 Feb 2,573 284 2,190 Mar 2,487 246 1,894 Apr 2,484 278 2,134 May 3,384 498 3,210 Jun 2,945 424 2,850 Jul 2,758 312 2,265 Aug 3,394 485 2,435 Sep 2,254 188 1,893 Oct 2,763 276 2,232 Nov 3,245 489 3,004 Dec 4,576 1,045 3,309 Jan 2009 2,103 104 2,195 Feb 2,056 167 2,045 Mar 3,874 298 2,301 Apr 2,784 398 2,345 May 2,345 187 1,815 Jun 2,912 334 2,094 Jul 2,093 264 1,934 Aug 2,873 333 2,054 Sep 2,563 1 43 1,977 Oct 2,384 245 1,857 Nov 2,476 232 2,189 Dec 3,364 1 ,1 22 3,433 Jan 2010 (estimated) 180 \$1,600 Feb 230 2,000 Mar 190 1,900 Apr 450 2,400 May 350 2,300 Jun 350 2,300 Jul 450 2,500 Aug 550 3,000 Sep 300 2,500 Oct 300 2,500 Nov 450 3,200 Dec 950 3,900

Required

1. Develop the regression that Jean should use based on these data and use the regression procedure in Excel or an equivalent regression software program. Evaluate the reliability and precision of the regression you have chosen.

2. What are the predicted monthly figures for supplies expense for 2010?

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