I a Coefficient of Correlation R Close to 0 (Say

question 99

Multiple Choice

i. A coefficient of correlation r close to 0 (say, 0.08) shows that the relationship between two
Variables is quite weak.
ii. The coefficient of determination is the proportion of the total variation in the dependent variable
Y that is explained or accounted for by its relationship with the independent variable X.
iii. If the coefficient of correlation is -0.90, the coefficient of determination is -0.81.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) and (ii) are correct statements but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (i), (ii), and (iii) are all false statements.

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Definitions:

Overapplied Overhead

Occurs when the allocated manufacturing overhead for a period exceeds the actual overhead costs incurred, resulting in a temporary overestimation of costs.

Predetermined Overhead Rate

A rate used to assign overhead costs to products or jobs, calculated before the period begins based on an estimate of costs.

Overapplied Overhead

A scenario in which the overhead costs attributed to manufacturing exceed the overhead expenses that were actually incurred.

Underapplied Overhead

A situation where the allocated factory overhead costs are less than the actual overhead costs incurred, leading to a discrepancy in cost accounting.