Question

A company want to find out if there is a linear relationship between indirect labor expense (ILE), in dollars, and direct labor hours (DLH). Data for direct labor hours and indirect labor expense for 25 months are given.

Please see attached Excel for data.
Approximately what percentage of the variation in indirect labor expenses is explained by the regression model you derived?

Place your answer, rounded to 2 decimal places, in the blank. Do not use any stray punctuation marks or a percentage sign. For example, 78.91 would be a legitimate entry.   %

DLH(X)	ILE(Y)
20	361
25	355
22	376
23	384
20	374
19	311
24	427.2
28	387.5
26	450.8
29	475.2
27	462.6
22	333.3
26	389.9
25	445
28	511
32	501.1
33	544.9
35	423.8
34	574.1
30	535.4
36	444.7
37	578.4
37	399.6
31	355
20	313

Answer 1

Dear I provided answer also with detailed explanations too... Dear I need your help and support... Dear please THUMBS UP... Your support saves me...

Answer is 45.29

Approximately 45.29 percentage of the variation in indirect labor expenses is explained by the regression model you derived

Coefficient of determination (r^2) = square of Correlation coefficient

Coefficient of determination will tells you how much variation can be explained by the fitted model.