Using the Regression Formula with a Slope = 1,000 and an Intercept

question 40

Multiple Choice

Using the regression formula with a slope = 1,000 and an intercept = 25,000,what would the predicted income be for someone who has 20 years of education?

• A)$40,000
• B)$42,000
• C)$45,000
• D)$47,000

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Definitions:

Profit Center

A segment of a company that is directly responsible for generating its own revenue and profit, often evaluated independently for performance assessment.

Long-Term Liabilities

financial obligations of a company that are due more than one year in the future, including bonds payable, long-term lease obligations, and pension liabilities.

Service Department Charges

Expenses allocated to a company's operational departments that provide support or services to other internal departments rather than directly to customers.

Operating Expenses

These are costs associated with the day-to-day operations of a business, excluding cost of goods sold, and may include rent, utilities, and salaries.