(A)Summarize the Findings of the Stepwise Regression Method Using This

question 43

Essay

(A)Summarize the findings of the stepwise regression method using this cutoff value.
(B)When the cutoff value was increased to 0.10,the output below was the result.The table at top left represents the change when the disposable income variable is added to the model and the table at top right represents the average price variable being added.The regression model with both added variables is shown in the bottom table.Summarize the results for this model.
(C)Which model would you recommend using? Why?

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Definitions:

Manufacturing Costs

The total expense incurred in the process of producing a product, which includes direct labor, direct materials, and overhead costs.

Gross Margin

Gross Margin is the difference between sales revenue and the cost of goods sold, expressed as a percentage of sales, indicating the efficiency of production and pricing.

Contribution Margin Income Statement

An income statement format that separates variable costs from fixed costs, focusing on contribution margin.

External Reporting

The provision of financial and non-financial information to external stakeholders, such as investors, creditors, and regulatory agencies, usually formal and standardized.