A Manager at a Local Bank Analyzed the Relationship Between

question 78

Multiple Choice

A manager at a local bank analyzed the relationship between monthly salary and three independent variables: length of service (measured in months) , gender (0 = female, 1 = male) and job type (0 = clerical, 1 = technical) . The following ANOVA summarizes the regression results: The results for the variable gender show that

• A) Males average $222.78 more than females in monthly salary
• B) Females average $222.78 more than males in monthly salary
• C) Gender is not related to monthly salary
• D) Gender and months of service are correlated

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Definitions:

Fixed Cost

Costs that do not change with the level of output or activity in the short term, such as rent, insurance, and salaries of permanent staff.

Product

Any good, service, or idea that can be offered to a market to satisfy a want or need.

Contribution Approach

An income statement format that organizes costs by their behavior. Costs are separated into variable and fixed categories rather than being separated into product and period costs for external reporting purposes.

External Reporting

The process of preparing and disclosing financial statements and other reports to entities outside of the corporation, such as investors and regulatory bodies.