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Westport Company reports the following in millions: net sales of $25,300 for 2016 and $22,640 for 2015; end-of-year total assets of $14,875 for 2016 and $13,680 for 2015. Compute its total asset turnover for 2016 and assess its level if competitors average a total asset turnover of 2.0 times.
Population Regression Line
A statistical estimate that expresses the relationship between one dependent variable and one or more independent variables for an entire population.
Sample Coefficient
A statistical measure calculated from a sample of data, used to estimate the characteristics or parameters of a population.
Least Squares Regression
A method to estimate the coefficients of a regression line by minimizing the sum of the squares of the differences between observed and predicted values.
Coefficient of Determination
A statistical measure that determines the proportion of variance in the dependent variable predictable from the independent variable(s).
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