In the Simple Regression Model,y = 21 − 5x,if the Coefficient

question 51

True/False

In the simple regression model,y = 21 − 5x,if the coefficient of determination is 0.81,we can say that the coefficient of correlation between y and x is 0.90.

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Definitions:

Institute of Management Accountants

A worldwide association of accountants and financial professionals in business, focused on promoting management accounting.

Overhead Cost Variance

The difference between the actual overhead costs incurred and the standard (or expected) overhead costs for a given accounting period.

Standard Overhead

The fixed amount of overhead costs that are expected to be incurred under normal operating conditions.

Volume Variance

The difference between the budgeted volume of production or sales and the actual volume, impacting costs or revenue.