Use the Information Below to Answer the Following Question(s)

question 51

Multiple Choice

Use the information below to answer the following question(s) .Teddy Bear Company sold a total of 30,000 stuffed tigers and lions.During August the following information was gathered:

-What is the Teddy Bear Company total sales-quantity variance?

• A)$21,600 favourable
• B)$13,750 favourable
• C)$13,750 unfavourable
• D)$4,500 favourable
• E)$4,500 unfavourable

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Definitions:

Y-Intercept

The location at which a line or curve crosses the y-axis in a coordinate system.

Simple Linear Regression

A statistical method that examines the linear relationship between two continuous variables, using a straight line to model the relationship.

Error Terms

In statistical modeling, these represent the difference between observed values and the values predicted by the model, reflecting unexplained or random variability.

Variances

A measure of the dispersion or spread of a set of data points, calculated as the average of the squared differences from the mean.