Nutritionist
a Nutritionist Is Analyzing the Cost of an 8 $$Y = 1.39 + 0.0178 \times 1 - 0.0258 \times 2 - 0.00050 \times 3$$

question 70

Short Answer

Nutritionist
A nutritionist is analyzing the cost of an 8 oz.serving of pasta.The nutritionist anticipates that cost is related to:
x₁ = Grams of protein/8 oz.
x₂ = Grams of carbohydrates/8 oz.
x₃ = Grams of fat/8 oz.
Using MINITAB,the nutritionist obtained the following results: The regression equation is
$$Y = 1.39 + 0.0178 \times 1 - 0.0258 \times 2 - 0.00050 \times 3$$
$\begin{array}{lcll}\text { Predictor } & \text { Coef } & \text { Stdev } &{\text { t-ratio }} \\\text { Constant } & 1.3928 & 0.1096 & 12.71 \\\text { X1 } & 0.017806 & 0.006600 & 2.70 \\\text { X2 } & -0.025825 & 0.001613 & -16.01 \\X 3 & -0.000501 & 0.002779 & -0.18\end{array}$
$s=0.04805 \quad \mathrm{R}-\mathrm{sq}=97.5 \% \quad \mathrm{R}-\mathrm{sq}(\mathrm{adj})=96.6 \%$
Analysis of Variance
$\begin{array}{lllcc}\text { SOURCE } & \text { DF } & & \text { SS } & \text { MS } \\\text { Regression } & & 3 & 0.72562 & 0.24187 \\\text { Error } & 8 & {0.01847} && 0.00231 \\\text { Total } & 11 &&{0.74409} &\end{array}$
-Test the significance of the regression equation at $\alpha$ = 0.01.
Test statistic = ____________________
Critical Value = ____________________
Conclusion: ____________________

Acknowledge the importance of tracking inventory activities in merchandising companies.

Recognize the period-end adjusting entries required under new revenue recognition standards.

Differentiate between periodic and perpetual inventory accounting systems.

Define and explain inventory valuation and reporting for merchandising companies.

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Definitions:

Fixity

In economics, refers to the inelasticity or immobility of certain factors, like land or capital, which can limit responsiveness to changes in market conditions.

Long Run

A period of time sufficient for all adjustments to be made in an economy or market, considering all possible changes in production.

Average Costs

The total cost of production divided by the number of units produced, used to determine the average expense per unit.

Marginal Costs

The increase or decrease in the total cost that results from producing one more or one less unit of a good or service.