As a Preliminary Step in the Selection of Variables to Use

question 100

Multiple Choice

As a preliminary step in the selection of variables to use in a statistical-forecasting model, the management accountant has calculated the coefficient of correlation between the firm's sales and three economic indexes. The results were as follows: $$\begin{array} { c c } \text { Index } & \text { Coefficient of Correlation } \\\text { A } & .105 \\\text { B } & - .009 \\\text { C } & - .854\end{array}$$ Which of the following statements indicates the best course of action for the auditor to take in the development of a forecasting model?

• A) Drop all three indexes from further consideration because a coefficient of correlation of + 1.0 is necessary for a statistically significant relationship.
• B) Include only indexes B and C in the model because they have the only negative coefficients of correlation.
• C) Include only index C in the model because its coefficient of correlation is relatively high and therefore probably statistically significant, while the coefficients of indexes A and B are likely to be insignificant.
• D) Include only index A in the model because it has the only positive coefficient of correlation.

Determine appropriate nursing actions in the preoperative holding area to ensure patient comfort and readiness for surgery.

Monitor and address postoperative fluid and electrolyte imbalances effectively.

Classify different types of surgeries and document surgical procedures accurately.

Assess and manage risks associated with postoperative care of patients with specific health conditions such as obstructive sleep apnea.

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Definitions:

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The circumstances or factors considered regarding readers' expectations and requirements for understanding a text.

Task Schedule

A planned sequence of tasks or activities with designated start and end times, often used to manage workloads and projects.

Graphical Formats

The use of visual elements, such as charts, graphs, and images, to present data or information in a clear and easily understandable manner.

Network Diagram

A visual representation of a network's components, including nodes and connections, used to illustrate the structure and relationships within the network.