TABLE 14-7
the Department Head of the Accounting Department $\text {SUMMARY OUTPUT}$

question 8

Short Answer

TABLE 14-7
The department head of the accounting department wanted to see if she could predict the GPA of students using the number of course units (credits) and total SAT scores of each. She takes a sample of students and generates the following Microsoft Excel output:
$\text {SUMMARY OUTPUT}$
$\begin{array}{ll}\hline \text { Regression Statistics } \\\hline \text { Multiple R }& 0.916 \\ \text { R Square} & 0.839 \\ \text { Adjusted R Square} & 0.732 \\ \text { Standard Error }& 0.24685 \\ \text { Observations} & 6 \\\hline\end{array}$

ANOVA
$\begin{array}{lccclc}\hline & \text {d f }& \text { SS }& \text { M S } & \text { F } & \text {Significance F } \\\hline \text { Regression} & 2 & 0.95219 & 0.47610 & 7.813 & 0.0646 \\ \text {Residual} & 3 & 0.18281 & 0.06094 & & \\ \text {Total} & 5 & 1.13500 & & & \\\hline\end{array}$

$\begin{array}{lrcrr}\hline & \text {Coefficients }& \text {Standard Error} & \text {t Stat } & \text { p -value} \\\hline \text { Intercept }& 4.593897 & 1.13374542 & 4.052 & 0.0271 \\ \text {Units }& -0.247270 & 0.06268485 & -3.945 & 0.0290 \\ \text {SAT Total }& 0.001443 & 0.00101241 & 1.425 & 0.2494 \\\hline\end{array}$
-Referring to Table 14-7, the department head decided to obtain a 95% confidence interval for þ1. The confidence interval is from______ to______ .

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Definitions:

Inventory

The total amount of goods and materials a business has in stock, either for sale or used in production.

Purchase Price

The amount of money paid to buy goods or services.

Merchandise Inventory

Goods or products that a retailer or wholesaler has purchased and intends to sell to customers.

Periodic System

An inventory system where inventory levels are updated in the accounting records on a periodic basis, typically at the end of an accounting period, rather than after each purchase or sale.