In an Area of the Midwest, Records Were Kept on the Relationship

question 85

Multiple Choice

In an area of the Midwest, records were kept on the relationship between the rainfall (in inches) and the yield of wheat (bushels per acre) . Find the standard error of estimate, $\mathrm { Se } ,$ , given that ? = 4.379x + 4.267. $$\begin{array} { l | l | l | l | l | l | l | l | l | l | } \text { Rain fall (in inches) , } \mathrm { x } & 10.5 & 8.8 & 13.4 & 12.5 & 18.8 & 10.3 & 7.0 & 15.6 & 16.0 \\\hline \text { Yield (bushels per acre) , y } & 50.5 & 46.2 & 58.8 & 59.0 & 82.4 & 49.2 & 31.9 & 76.0 & 78.8\end{array}$$

• A)3.529
• B)4.759
• C)2.813
• D)1.332

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Definitions:

Depreciation Expense

The allocation of the cost of a tangible asset over its useful life, representing the wear and tear or obsolescence of the asset.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against a fixed asset since it was put into use, reducing its book value on the balance sheet.

Asset Turnover

A financial ratio that measures how efficiently a company uses its assets to generate sales, calculated by dividing total revenues by average assets.

Net Sales

The revenue from sales transactions after deducting returns, allowances, and discounts.