TABLE 13-8 It Is Believed That GPA (Grade Point Average, Based on Based

question 179

Multiple Choice

TABLE 13-8
It is believed that GPA (grade point average, based on a four point scale) should have a positive linear relationship with ACT scores. Given below is the Excel output for predicting GPA using ACT scores based a data set of 8 randomly chosen students from a Big-Ten university.

-Referring to Table 13-8, what is the predicted value of GPA when ACT = 20?

• A) 2.61
• B) 2.66
• C) 2.80
• D) 3.12

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Definitions:

Consolidation Entry

Journal entries made in the consolidation process to adjust and eliminate intercompany transactions between parent and subsidiary entities in consolidated financial statements.

Inventory Transfer

The process of moving goods from one location to another within the same business entity.

Cost of Goods Sold

Immediate expenses incurred in the production of a company’s merchandise, including labor and material costs.

Gross Profit

The difference between sales revenue and the cost of goods sold, before deducting overheads, payroll, taxation, and interest payments.