Consider the Model: Y_t = ₀ + ₁z_t1

question 24

Multiple Choice

Consider the model: y_t = ₀ + ₁z_t1 + ₂z_t2 + u_t. Under weak dependence, the condition sufficient for consistency of OLS is:

• A)E(z_t1|z_t2) = 0.
• B)E(y_t |z_t1, z_t2) = 0.
• C)E(u_t |z_t1, z_t2) = 0.
• D)E(u_t |z_t1, z_t2) = .

Understand the role of inventory management techniques such as just-in-time in reducing inventory levels and costs.

Distinguish between internal and external reporting requirements and their audiences.

Identify the managerial functions of planning, controlling, and directing, and their relevance in managerial accounting.

Appreciate the significance of internal reports in managerial decision-making and their characteristics.

---

Definitions:

Situational

Relating to or dependent upon a set of circumstances or conditions at a particular time that affects actions, decisions, and strategies.

Psychological Factor

Represents the mental and emotional influences that affect consumer behaviors and decision-making processes.

Functional Need

A consumer's requirement for a specific feature or function that a product or service must fulfill to be considered useful.

Lifestyle

The way in which a person or group lives, including patterns of social relations, consumption, entertainment, and dress.