The Data in the Table Represent the Amount of Raw

question 25

Multiple Choice

The data in the table represent the amount of raw material (in tons) put into an injection molding machine each day (x) , and the amount of scrap plastic (in tons) that is collected from the machine every four weeks (y) . Also shown below are the outputs from two different statistical technologies (TI- 83/84 Calculator and Excel) . A scatterplot of the data confirms that there is a linear association. Report the equation for predicting scrap from raw material using words such as scrap, not x and y. State the slope and intercept of the prediction equation. Round all calculations to the nearest hundredth.

• A)scrap = - 2.38 + 2.19(raw material); slope = 2.19 and the intercept is - 2.38.
• B)scrap = 2.19 - 2.38(raw material); slope = - 2.38 and the intercept is 2.19.
• C)scrap = 2.19 - 2.38(raw material); slope = 2.19 and the intercept is - 2.38.
• D)scrap = - 2.38 + 2.19(raw material); slope = - 2.38 and the intercept is 2.19.

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Definitions:

Natural Business Year

A fiscal year that ends when business activities have reached the lowest point in an annual operating cycle.

Formal Accounting Records

Official documents and books that systematically record financial transactions and positions of a business.

Work Sheet

An internal document used by accountants to prepare financial statements, gather information, and perform adjustments before the closing of accounts.

Reversing Entries

Journal entries made the first day of the period that are the exact opposite of the related adjusting entries of the prior period.