Instruction 13-14
the Head of the Accounting Department Wanted to See

question 249

Short Answer

Instruction 13-14
The Head of the Accounting Department wanted to see if she could predict the average grade of students using the number of course units (credits)and total university entrance exam scores of each.She takes a sample of students and generates the following Microsoft Excel output:
SUMMARY
Regression Statistics
$\begin{array} { l l } \text { Multiple R } & 0.916 \\ \text { R Square } & 0.839 \\ \text { Adj. R Square } & 0.732 \\ \text { Std. Error } & 0.24685 \\ \text { Observations } & 6 \end{array}$
ANOVA
$\begin{array} { l l l l l l } & \boldsymbol { d f } & \text { SS } & \text { MS } & \boldsymbol { F } & \text { Signif } \boldsymbol { F } \\ \text { Regression } & 2 & 0.95219 & 0.47610 & 7.813 & 0.0646 \\ \text { Residual } & 3 & 0.18281 & 0.06094 & & \\ \text { Total } & 5 & 1.13500 & & & \\ & & & & & \\ & \text { Coeff } & \text { StdError } & \boldsymbol { t } \text { Stat } & \boldsymbol { P } \text {-Value } & \\ \text { Intercept } & 4.593897 & 1.13374542 & 4.052 & 0.0271 & \\ \text { GDP } & - 0.247270 & 0.06268485 & - 3.945 & 0.0290 & \\ \text { Price } & 0.001443 & 0.00101241 & 1.425 & 0.2494 & \end{array}$ Note: Adj.R Square = Adjusted R Square;Std.Error = Standard Error
-Referring to Instruction 13-14,the Head of Department decided to construct a 95% confidence interval for β₁. The confidence interval is from ________ to ________.

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Definitions:

Product Requirements

Specifications or criteria that must be met for products to satisfy customer needs or regulatory standards.

Local Facilities

Physical locations or buildings situated within a specific area or community, serving as operational centers for businesses, services, or public use.

Compete on Price

A strategy where businesses attract customers and gain market share by offering lower prices than their competitors.

Transportation Cost

Expenses incurred in moving goods from one place to another, including shipping fees, fuel costs, and labor.