Exhibit 8-3A standardized testing agency would like to understand the role of tests in admission decisions at top business schools. It is particularly interested in the relative roles played by the GRE and the undergraduate GPA in the admissions process. It has gathered the following data for 50 randomly sampled applicants (which has been sorted by Admitted):
-Refer to Exhibit 8-3. Use a discriminant analysis to develop a classification model. What is the best percentage correctly classified obtained with your model?
Definitions:
Accounts Receivable
The money owed to a company by its customers for goods or services that have been delivered or sold but not yet paid for.
Finished Goods Inventory
The inventory of finished goods that are prepared for sale but remain unsold.
Cost of Goods Sold
Cost of Goods Sold (COGS) represents the direct costs attributable to the production of the goods sold by a company, including material and labor expenses.
Manufacturing Overhead Costs
Indirect costs related to manufacturing that cannot be directly attributed to specific units produced, such as maintenance and utility expenses.
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