TABLE 17-1 A Real Estate Builder Wishes to Determine How House Size

question 86

Multiple Choice

TABLE 17-1
A real estate builder wishes to determine how house size (House) is influenced by family income (Income) ,family size (Size) ,and education of the head of household (School) .House size is measured in hundreds of square feet,income is measured in thousands of dollars,and education is in years.The builder randomly selected 50 families and ran the multiple regression.Microsoft Excel output is provided below:
-Referring to Table 17-1,when the builder used a simple linear regression model with house size (House) as the dependent variable and education (School) as the independent variable,he obtained an r² value of 23.0%.What additional percentage of the total variation in house size has been explained by including family size and income in the multiple regression?

• A)2.8%
• B)51.8%
• C)72.6%
• D)74.8%

Understand how to apply fixed overhead to Work in Process (WIP) inventory using the predetermined overhead rate.

Know how to prepare and analyze an income statement for manufacturing companies using standard costing.

Learn how to determine the ending balance in various accounts including raw materials, WIP inventory, finished goods, and PP&E net.

Grasp the financial implications of using a standard cost system on inventory valuation.

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Raised or increased in level or amount.

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An abnormal enlargement or bulging caused by a buildup of fluid or inflammation in tissues or joints.