The Following Computer Printout Estimated Overhead Costs Using Multiple Regression

question 58

Multiple Choice

The following computer printout estimated overhead costs using multiple regression: The model being measured is

• A) Overhead = 1,000 + 25(Setup hours) + 100(# of parts).
• B) Overhead = 510 + 0.305(Setup hours) + 10.527(# of parts).
• C) Overhead = 0.98 + 40.98(Setup hours) + 4.865(# of parts).
• D) Overhead = 1,000 + 25(Setup hours).

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Definitions:

T-Distribution

A probability distribution used in statistical analysis which is appropriate for estimating population parameters for small sample sizes or unknown variances.

T-Distribution

A probability distribution that arises in the sampling distribution of the mean of a normally distributed population when the sample size is small and the population standard deviation is unknown.

Confidence Intervals

A selection of values, extracted from a sample, presumed to hold the value of an undisclosed population attribute.

Population Variance

A measure of the spread or dispersion of a set of data values in a population, indicating the average squared deviation from the mean.