TABLE 14-2 A Professor of Industrial Relations Believes That an Individual's Wage

question 291

Multiple Choice

TABLE 14-2
A professor of industrial relations believes that an individual's wage rate at a factory (Y) depends on his performance rating (X₁) and the number of economics courses the employee successfully completed in college (X₂) . The professor randomly selects 6 workers and collects the following information:
-Referring to Table 14-2, for these data, what is the estimated coefficient for performance rating, b₁?

• A) 0.616
• B) 1.054
• C) 6.932
• D) 9.103

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Definitions:

Direct Write-off

A method of accounting where uncollectible receivables are written off to expense only when they are deemed non-collectible.

Allowance Account

A contra account related to accounts receivable that estimates the amount of receivables which may not be collected.

Allowance for Doubtful Accounts

This accounting practice represents a reserve for accounts receivable that may not be collectible, reflecting potential future losses due to credit sales.

Debit Balance

A debit balance is the remaining amount of money in an account, typically a bank account or a business's financial account, after all debits have been accounted for.