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:
AASB 141
Refers to the Australian Accounting Standards Board's standard on Agriculture, which guides how agricultural activities and products should be accounted for and reported in financial statements.
IAS 41
An International Accounting Standard that requires agricultural activity's biological assets and agricultural produce to be measured at fair value less costs to sell.
Fair Value Changes
Fair value changes refer to adjustments made to the recorded value of an asset or liability to reflect its current market value, impacting the financial statements accordingly.
Impairment
A reduction in the recoverable amount of a fixed asset or goodwill below its book value, often reflecting decreased future earning potential.
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