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If Actual Results Are Different from Planned Results the Difference

question 170

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If actual results are different from planned results the difference must always be investigated by management to achieve effective budgetary control.

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Definitions:

Degrees Of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution or a system without violating any constraints.

Multiple Regression

A statistical method that predicts the behavior of a dependent variable based on two or more independent variables.

Estimated Regression

A statistical method for estimating the relationships among variables, often used to predict the value of a dependent variable based on values of independent variables.

SSR

Sum of Squares due to Regression, a statistical measure used to evaluate the variance in the dependent variable that is predictable from the independent variable(s).

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