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determining slope and intercept on the regression line

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A company has observed that 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 18 months are given in the file ILE_and_DLH.xlsx

Treating ILE as the response variable, use regression to fit a straight line to all 18 data points. What values for the intercept (a) and slope (b) do you obtain?

Place your answers, rounded to 3 decimal places, in the blanks provided. Do not use any stray punctuation marks. For example, 34.567 would be a legitimate entry.

intercept (a) =
slope(b) =

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Solution Summary

The solution gives detailed steps on determining slope and intercept on the regression line using excel.