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Cost Estimation

The document presents a comparison of fuel oil expenses, machine hours, and labor hours worked over several months, along with regression statistics for two different analyses. The regression results indicate varying levels of correlation and significance between the variables, with different coefficients for machine hours and units produced. The analysis also includes ANOVA results, highlighting the significance of the models used.

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omondiv394
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38 views4 pages

Cost Estimation

The document presents a comparison of fuel oil expenses, machine hours, and labor hours worked over several months, along with regression statistics for two different analyses. The regression results indicate varying levels of correlation and significance between the variables, with different coefficients for machine hours and units produced. The analysis also includes ANOVA results, highlighting the significance of the models used.

Uploaded by

omondiv394
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd

POSITION HELD BY THE EMPLOYEE

Fuel oil Machine Labour


Units
Month expense hours hours
produced.
(Sh’000) (‘000) worked SUMMARY OUTPUT
Jul-21 640 34 38,000 130
Aug-21 620 30 36,300 125 Regression Statistics
Sep-21 625 34 37,000 140 Multiple R 0.7138899908
Oct-21 590 39 47,200 315 R Square 0.5096389189
Nov-21 500 42 42,000 280 Adjusted R Square 0.4006697898
Dec-21 530 32 35,100 308 Standard Error 47.449563971
Jan-22 500 26 26,350 180 Observations 12
Feb-22 500 26 28,600 345
Mar-22 530 31 37,500 390 ANOVA
Apr-22 550 35 35,000 390 df SS
May-22 580 43 47,250 250 Regression 2 21059.7665776
Jun-22 680 48 58,080 400 Residual 9 20263.1500891
Total 11 41322.9166667

Coefficients Standard Error


Intercept 443.70867138 75.7347333115
Machine hours (‘000) -8.293764261 6.11409323376
Units produced. 0.0106833702 0.00482458522
S

SUGGESTION BY THE EXPERIENCED WO


Fuel oil Machine Labour
Units
Month expense hours hours
produced.
(Sh’000) (‘000) worked SUMMARY OUTPUT
Jul-21 640 34 38,000 130
Aug-21 620 30 36,300 125 Regression Statistics
Sep-21 625 34 37,000 140 Multiple R 0.8498181568
Oct-21 590 39 47,200 315 R Square 0.7221908996
Nov-21 500 42 42,000 280 Adjusted R Square 0.6180124869
Dec-21 530 32 35,100 308 Standard Error 37.881199668
Jan-22 500 26 26,350 180 Observations 12
Feb-22 500 26 28,600 345
Mar-22 530 31 37,500 390 ANOVA
Apr-22 550 35 35,000 390 df SS
May-22 580 43 47,250 250 Regression 3 29843.0343602
Jun-22 680 48 58,080 400 Residual 8 11479.8823065
Total 11 41322.9166667

Coefficients Standard Error


Intercept 477.94764234 62.0262081727
Machine hours (‘000) -8.054132206 4.88212666626
Units produced. 0.0115582405 0.00386789025
Labour hours worked -0.283210839 0.11447365072
MS F Significance F
10529.883289 4.676911003 0.0404875943
2251.461121

t Stat P-value Lower 95% Upper 95% Lower 95.0%Upper 95.0%


5.8587209854 0.000241125 272.38480195 615.0325408 272.3848 615.03254081
-1.356499475 0.207988301 -22.12480406 5.537275542 -22.1248 5.5372755418
2.2143603466 0.054059284 -0.0002306 0.02159734 -0.000231 0.0215973402

RIENCED WORKER

MS F Significance F
9947.6781201 6.932250944 0.0129219328
1434.9852883

t Stat P-value Lower 95% Upper 95% Lower 95.0%Upper 95.0%


7.7055756981 5.714081E-05 334.9149498 620.9803349 334.9149 620.98033488
-1.649717993 0.137609494 -19.31233649 3.204072075 -19.31234 3.2040720748
2.988254514 0.017380154 0.0026388696 0.020477611 0.002639 0.0204776114
-2.474026445 0.038468213 -0.547187551 -0.019234127 -0.547188 -0.019234127

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