Use the Following to Answer Questions

question 96

Short Answer

Use the following to answer questions :
For a data set of 15 values of x and y,the value of = 313,the standard deviation of errors for the regression of y on x is 8.347,and the value of b is 1.78.
For the purpose of running a hypothesis test,the null hypothesis is that the slope of the population regression line of y on x is zero and the alternative hypothesis is that the slope of this population regression line is greater than zero.The significance level is 5%.
-The 90% confidence interval for the slope,B,of the population regression line is:

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Definitions:

Revenue Variances

Differences between actual revenue and budgeted or forecasted revenue figures.

Budgets

Financial plans that estimate future income, expenditures, and resources over a specific period.

Standard Cost System

A cost accounting system that compares actual costs to predetermined or standard costs to help in budgeting and variance analysis.

Materials Quantity Variance

A calculation that shows the difference between the actual amount of materials used and the expected amount, which can indicate issues in efficiency or procurement.