SCENARIO 13-2 A Candy Bar Manufacturer Is Interested in Trying to Estimate

question 87

Multiple Choice

SCENARIO 13-2
A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their product.To do this,the company randomly chooses 6 small cities and offers the candy bar at different prices.Using candy bar sales as the dependent variable,the company will conduct a simple linear regression on the data below:

-Referring to Scenario 13-2,what is the coefficient of correlation for these data?

• A)- 0.8854
• B)- 0.7839
• C)0.7839
• D)0.8854

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Definitions:

End-of-period Spreadsheet

A financial document used to summarize account balances and adjustments at the conclusion of an accounting period before preparing financial statements.

Closing Entries

Entries recorded at the conclusion of a fiscal period to move balances from temporary accounts to permanent ones, thus readying the accounts for the upcoming period.

Closing Entries

Entries in the journal made during the closing of an accounting period to move balances from transitory accounts to enduring accounts.

Fiscal Year

A one-year period that companies and governments use for financial reporting and budgeting, different from the calendar year.