Thul Company Is Interested in Establishing the Relationship Between Electricity

question 54

Multiple Choice

Thul Company is interested in establishing the relationship between electricity costs and machine hours.Data have been collected and a regression analysis prepared using Excel.The monthly data and the regression output follow: The correlation coefficient for the regression equation for electricity costs is:

• A)0.965.
• B)0.932.
• C)0.925.
• D)0.982.

---

Definitions:

Production

The process of creating goods or services by combining various resources like labor, materials, and technology.

Feasible Terms

Conditions or criteria that can be realistically achieved or met in a particular context or agreement.

Production Possibilities

The different combinations of goods and services that a society can produce given its available resources and technology.

Comparative Advantage

The ability of an individual, firm, or country to produce a certain good or service at a lower opportunity cost than competitors.