SCENARIO 12-13
in This Era of Tough Economic Conditions, Voters

question 52

Short Answer

SCENARIO 12-13
In this era of tough economic conditions, voters increasingly ask the question: "Is the educational achievement level of students dependent on the amount of money the state in which they reside spends on education?" The partial computer output below is the result of using spending per student ($) as the independent variable and composite score which is the sum of the math, science and reading scores as the dependent variable on 35 states that participated in a study.The table includes only partial results. $$\begin{array}{l}\begin{array} { l c } \hline { \text { Regression Statistics } } \\\hline \text { Multiple R } & 0.3122 \\\text { R Square } & 0.0975 \\\text { Adjusted R } & 0.0701 \\\text { Square } & \\\text { Standard } & 26.9122 \\\text { Error } & \\\text { Observations } & 35 \\\hline\end{array}\\\end{array}$$
ANOVA
$\begin{array}{lccc}& d f & S S & M S & F \\\text { Regression } & 1 & 2581.5759 & \\\text { Residual } & & & 724.2674 \\\text { Total } & 34 & 26482.4000 &\end{array}$
$$\begin{array}{l}\begin{array} { l c c c c } \hline & \text { Coefficients } & \text { Standard Error } & t \text { Stat } & P \text {-value } \\\hline \text { Intercept } & 595.540251 & 22.115176 & & \\\text { Spending per } & & & & \\\text { Student(\$) } & 0.007996 & 0.004235 & \\\hline\end{array}\end{array}$$
-Referring to Scenario 12-13, the p-value of the measured F-test statistic to test whether spending per student affects composite score is .

Understand the significance of resolving bottlenecks to improve efficiency and profitability.

Identify root-cause cost drivers and their impact on operational efficiency.

Analyze the impact of effective inventory management and its relation to non-value-added activities.

Understanding the principles and steps involved in Business Process Re-engineering (BPR).

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