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A poultry farmer that dabbles in statistics is interested in exploring the relationship between two types of feed,layer pellets and scratch,water,and the output of his laying hens.For ten days he records the number of ounces of layer pellets and scratch the hens consume and the number of fluid ounces of water and tracks the number of eggs that are produced.What is his regression equation based on the data?
Retained Earnings
The portion of net income that is not distributed to shareholders as dividends, but rather kept by the company for reinvestment in its operations or to pay debt.
Closing Process
The accounting procedures used to close out business accounts at the end of an accounting period.
Income Summary Account
A temporary ledger account used during the closing process that accumulates revenues and expenses before transferring the net amount to the capital or retained earnings account.
Net Income
The sum of money a company retains as profit after all financial obligations and taxes are deducted from its total income.
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