Use the following information to answer the question. A high school boys cross country coach performs a regression to predict the finish times of runners in the 10k event from the number of minutes of training in the previous week. The output is shown below. Assume that the conditions of the linear regression model hold.
-Suppose the coach's top runner trained for 180 minutes the previous week. If this runner participates in the 10k event, what is the coach's expected finish time for this runner? Can he be reasonably confident that this runner will beat the previous season's record of 43 minutes?
Definitions:
Cost Reconciliation Report
A financial report that reconciles estimated costs with actual costs incurred, often used in manufacturing to track material, labor, and overhead costs against budgeted or standard costs.
Work in Process Inventory
Represents the cost of unfinished goods in the production process, including labor, materials, and overhead.
Service Department Costs
The expenses incurred by support departments within a company that do not directly contribute to profit but provide necessary services.
Operating Departments
Sections or divisions within a business that are responsible for carrying out its core operations, as opposed to support or administrative departments.
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