Information relating to direct labor for the Newstead Company follow: 
The labor rate variance is:
Definitions:
Correlation Analysis
A statistical method used to evaluate the strength and direction of the linear relationship between two quantitative variables.
Scatter Diagram
A graphical representation used to visualize the relationship between two quantitative variables.
Regression Line
A line plotted through the scatter plot of data points that best expresses the relationship between those points, typically used in linear regression.
Coefficient Of Correlation
A numerical measure that indicates the strength and direction of a linear relationship between two variables.
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