Instruction 13.24
A financial analyst wanted to examine the relationship between salary (in $1,000) and four variables: age (X1 = Age), experience in the field (X2 = Exper), number of degrees (X3 = Degrees) and number of previous jobs in the field (X4 = Prevjobs). He took a sample of 20 employees and obtained the following Microsoft Excel output:
Note: Adj. R Square = Adjusted R Square; Std. Error = Standard Error
-Referring to Instruction 13.24,the analyst wants to use a t test to test for the significance of the coefficient of X3.The value of the test statistic is _____.
Definitions:
Variable Costing
An accounting method that includes only variable production costs—direct materials, direct labor, and variable manufacturing overhead—in the cost of goods sold.
Absorption Costing
A calculation approach that encompasses all expenses of production, such as materials, labor, and all overheads, both variable and fixed, in determining a product's price.
Variable Production Costs
Costs that vary directly with the level of production, such as raw materials and direct labor.
Absorption Costing
This approach to bookkeeping encompasses all production-associated expenses, including direct materials, direct labor, and all manufacturing overheads, both variable and fixed, in calculating the product's price.
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