The Following Information Is Available for Patterson Company The Accounts Receivable Turnover for 2017 Is
A) 8

question 88

Multiple Choice

The following information is available for Patterson Company: $\begin{array}{lrr}&2017&2016\\\text { Accounts receivable } & \$ 360,000 & \$ 340,000 \\\text { Inventory } & 280,000 & 320,000 \\\text { Net credit sales } & 3,150,000 & 2,600,000 \\\text { Cost of goods sold } & 1,800,000 & 840,000 \\\text { Net income } & 300,000 & 170,000\end{array}$ The accounts receivable turnover for 2017 is

• A) 8.8 times.
• B) 4.5 times.
• C) 9.0 times.
• D) 9.3 times.

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Definitions:

Explanatory Variables

Variables in a statistical model that are used to explain variations in the dependent variable; also known as independent variables.

Qualitative Predictor Variables

Variables that categorize or describe data based on attributes or qualities, such as gender, color, or type, which do not have a numerical value.

Dummy Variables

Numerical variables used in regression analysis to represent subgroups of the sample in a study.

Regression Model

A statistical technique that models and approximates the relationship between a dependent variable and one or more independent variables.