TABLE 12-12 The Manager of the Purchasing Department of a Large Savings

question 92

Multiple Choice

TABLE 12-12
The manager of the purchasing department of a large savings and loan organization would like to develop a model to predict the amount of time (measured in hours) it takes to record a loan application. Data are collected from a sample of 30 days, and the number of applications recorded and completion time in hours is recorded. Below is the regression output:

Note: 4.3946E-15 is 4.3946 x 10-15.


-Referring to Table 12-12, the degrees of freedom for the F test on whether the number of loan applications recorded affects the amount of time are ________.

---

Definitions:

Tax Reporting

The process of preparing and submitting financial information to the relevant tax authority, detailing earnings, expenses, and taxes owed.

Costing

The process of determining the cost associated with a product or service.

Absorption Costing

A strategy for calculating the cost of a product by encompassing all associated manufacturing costs, covering direct materials, direct labor, and overheads, both variable and fixed.

Variable Costing

A costing method in accounting that only considers variable costs, which change with the level of output, in the determination of the cost of goods sold or manufacturing costs.