The Following Regression Output Was Generated Based on a Sample

question 110

Multiple Choice

The following regression output was generated based on a sample of utility customers.The dependent variable was the dollar amount of the monthly bill and the independent variable was the size of the house in square feet. Based on this regression output,which of the following statements is not true?

• A)The number of square feet in the house explains only about 2 percent of the variation in the monthly power bill.
• B)At an alpha level equal to 0.05,there is no basis for rejecting the hypothesis that the slope coefficient is equal to zero.
• C)The average increase in the monthly power bill is about 66.4 for each additional square foot of space in the house.
• D)The correlation of the monthly power bill with the square footage of the house is 0.149.

Understand the factors contributing to political democracy and its challenges.

Analyze the role of political parties, lobbies, and other political organizations in shaping policies and governance.

Understand the relationship between economic power and political influence.

Understand the mechanisms through which citizens can influence or control the state in modern democracies.

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Definitions:

Standard Hours Per Unit

The predetermined amount of time expected to be required to produce one unit of a product under standard operating conditions.

Direct Materials Quantity Variance

The difference between the actual quantity of materials used in production and the standard quantity expected, multiplied by the standard cost per unit.

Direct Labor Time Variance

The difference between the actual time taken to complete a task and the standard time expected, multiplied by the labor rate.

Factory Overhead Volume Variance

The difference between the budgeted and actual volume of production, affecting the allocation of fixed manufacturing overhead costs to products.