Use the Data Given Below to Answer the Following Questions)

question 48

Multiple Choice

Use the data given below to answer the following questions) .
Following is an extract from the database of a construction company. The table shows the height of walls in feet and the cost of raising them. The estimated simple linear regression equation is given as Ŷ = b0 + b1X. Hint: Use Excel functions) . $$\begin{array} { | r | r | } \hline \text { Height ft) } & \text { Cost \$) } \\\hline 4 & 670 \\\hline 3 & 430 \\\hline 7 & 810 \\\hline 9 & 1100 \\\hline 6 & 790 \\\hline 8 & 880 \\\hline 5 & 760 \\\hline 11 & 1200 \\\hline\end{array}$$
-Which of the following statements is true when using the Excel Regression tool?

• A) The range for the independent variable values must be specified in the box for the Input Y Range.
• B) Checking the option Constant is Zero forces the intercept to zero.
• C) The Regression tool can be found in the Tools tab under Insert group.
• D) Adding an intercept term reduces the analysis' fit to the data.

Recognize the significance of financial reporting systems guided by the principle of exceptions.

Understand the concept and application of standard cost systems in accounting.

Comprehend the basis of setting standard costs for manufacturing products.

Acknowledge the limitations of relying exclusively on past cost data for setting standards.

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Definitions:

Initiative

The ability to assess and initiate things independently, often used to describe proactive efforts in workplace or project settings.

Measuring HR

The process of evaluating the effectiveness and impact of Human Resource practices and initiatives on an organization's goals.

Human Resource Productivity

The measure of how effectively and efficiently the human capital of an organization is utilized to achieve its goals.

Competitive Measurements

Metrics and benchmarks used by businesses to assess their performance relative to their competitors.