If We Wanted to Create a Scatterplot for the Significant

question 1

Multiple Choice

If we wanted to create a scatterplot for the significant finding for our continuous predictor variable, then how should we do this?

• A) The predictor variable on the x axis, and the predicted outcome probability on the y axis
• B) The predictor variable on the x axis, and the actual outcome variable on the y axis
• C) The predicted outcome probability on the x axis, and the actual outcome variable on the y axis
• D) The predictor variable on the x axis, and the predicted outcome residual on the y axis

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Definitions:

Machine-Hours

An allocation base in cost accounting used to assign costs to products or services, based on the hours of machine operation required.

Fixed Manufacturing Overhead

Consists of manufacturing costs that do not change with the level of production, such as salaries of supervisors and rent for factory premises.

Denominator Level

The level of activity used to compute the fixed manufacturing overhead rate in absorption costing, affecting inventory and cost of goods sold.

Budget Variance

The difference between budgeted amounts and actual amounts spent or received.