The Linear Trend Equation for the Following Data Is $$\hat { y } = 1.4286 + 2.5 ( t )$$

question 101

Essay

The linear trend equation for the following data is $$\hat { y } = 1.4286 + 2.5 ( t )$$ $$\begin{array} { c c } \text { Month } & \text { Value of Fund } \\1 & 4 \\2 & 6 \\3 & 9 \\4 & 12 \\5 & 14 \\6 & 16 \\7 & 19\end{array}$$
-What is the predicted value of the fund in the period t=1?

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Definitions:

Direct Materials Purchases Variance

The difference between the actual cost of direct materials purchased and the expected cost at standard prices.

Standard Costs

Predetermined costs for materials, labor, and overhead that are used as benchmarks to measure actual performance and cost control.

Materials Quantity Variance

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

Direct Materials Purchases Variance

The difference between the actual costs of materials purchased and the expected (standard) costs.