Here Is the Output from Two Regression Models for Overhead

question 68

Essay

Here is the output from two regression models for overhead costs at a university using number of academic programs and number of students as potential cost drivers.
Number of academic programs
Adjusted R-square = 0.72
Intercept = 7,127.75 t-statistic = 2.14 p-value = .05
X1 variable = 240.64 t-statistic = 5.08 p-value = .001
Number of students
Adjusted R-square = 0.55
Intercept = 5,991.75 t-statistic = 1.18 p-value = .35
X1 variable = 3.78 t-statistic = 3.53 p-value = 0.01
a)Develop a cost function for each potential cost driver.
b)Compare the output for the two drivers. Choose the best cost driver for overhead costs and explain how you made that choice.
c)Suppose you use the best cost function from part (b)to estimate overhead cost for the next semester. Why is it highly unlikely that the actual cost will be exactly the same as the cost you estimated?

Understand the types of fuel used in truck supplemental coolant heaters.

Comprehend how electronically controlled A/C systems in trucks are integrated with vehicle data buses.

Identify causes of abnormal A/C system pressure readings.

Recognize the network and output device configurations in truck A/C electronic control units.

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Definitions:

Solving Problems

The process of identifying, analyzing, and finding solutions for challenges or obstacles.

Leaking Pipeline

A metaphor describing the continuous loss of individuals from a certain path or process, especially used to discuss the decrease in representation of minority groups in a progression, such as women in STEM fields.

Double Bind

A psychological predicament in which an individual receives two or more conflicting messages, wherein responding to one negates the ability to respond to the other(s).

Multiculturalism

Refers to pluralism and respect for diversity in the workplace.