Like Any Other University, Seton Hall University Uses SAT Scores

question 37

Multiple Choice

Like any other university, Seton Hall University uses SAT scores and high school GPAs as primary criteria for admission. Data for 30 students who had recently applied to Seton Hall were collected including admission (1 for admission and 0 otherwise) , SAT score, and GPA. Output for the model is shows below. Which of the following statements is correct about the individual significance of the variables at the 5% significance level?

• A) SAT is individually significant and GPA is not.
• B) GPA is individually significant and SAT is not.
• C) Both SAT and GPA are individually significant.
• D) Neither SAT nor GPA is individually significant.

---

Definitions:

Materials Quantity Variance

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

Variable Overhead Efficiency Variance

The difference between the actual variable overhead incurred and the standard cost allocated for the actual production achieved.

Labor Rate Variance

The difference between the actual cost of direct labor and the expected (or budgeted) cost, based on standard rates and actual hours worked.

Materials Price Variance

The difference between the actual cost of materials purchased and the expected (or standard) cost, used to assess cost management performance in procurement.