The Value for "B" in the Regression Equation Y =

question 1

Multiple Choice

The value for "b" in the regression equation Y = a + b(X) + e is shown in Excel as

• A)the intercept
• B)the slope
• C)the forecasted variable
• D)the independent predictor variable
• E)none of the above

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Definitions:

Actual Costs

The true expenses incurred in the production of a product or the provision of a service, as opposed to estimated or budgeted costs.

Material Variance

Material variance is the difference between the actual cost of materials used in the production process and the expected (or standard) cost, used to analyze and control costs in manufacturing.

Standard Cost

Standard cost is an estimated or predetermined cost of performing an operation, producing a good, or delivering a service, under normal conditions, used for budgeting and assessing performance.

Materials Price Variance

The difference between the actual cost and the standard cost of materials multiplied by the quantity purchased.