company’s net income. Note that the p-value is not very impressive, 0.174, and the slope of the population regression equation could very easily be 0, at least based on this sample of years. For a year in which total revenues are $18 billion, the equation would estimate net income as $2.009 billion. The Minitab printout is shown below. Regression Analysis: NetIncome versus TotRev The regression equation is NetIncome = 0.21 + 0.0999 TotRev Predictor Coef SE Coef T P Constant
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meaningful linear or logarithmic equation, because the data curves over the Y-axis, which cannot be accurately approximated by either line (or any function of quantity). Therefore, the results from this chart will not be well explained by the line and the R2 value will be low. Further, the upward slope of the data does not conform to the law of demand and thus cannot accurately represent reality. However, the second chart, CSD Sales vs. Real Price, does follow a downward pattern that the linear and logarithmic
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28 30 22 25 Passenger 75 88 60 99 110 88 90 Table 1 The regression equation is Time = 4.58 + 0.228 Passengers Above in table 1 is the data collected from the various airports with similar trains along with calculated estimated regression equation which represent the least square line drawn through the scatter plot in fig 1. Figure 1 shows a graph of time versus passengers on a scatter diagram. The slope of the estimated regression is 0.228 positive,
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apartments, based on the size of the apartment, as defined by square footage. A sample of 25 apartments in a particular residential neighborhood was chosen. Q-2a: Construct a scatter plot of rent/size. Q-2b: Find the equation of the least squares regression line that models the relationship between square footage and rental amount and interpret the meaning of the coefficients. Q-2c: Predict the monthly rent for an apartment with 1000 square feet. Q-2d: Explain why it would not be appropriate to use
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Problem Set Problem 1 The local distribution center of a major grocery chain sources frozen vegetable packets from a supplier in Lexington, Kentucky. The vegetable packets are packed in 500-packet cartons and the distribution center sources them at the rate of $375 per carton. The distribution center estimates the annual demand for the frozen vegetables to be 60000 cartons. The fixed cost of placing an order, including transportation costs, is $700. Given the warehousing and cold storage costs
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Linear Regression and Correlation Chapter 13 McGraw-Hill/Irwin ©The McGraw-Hill Companies, Inc. 2008 GOALS Understand and interpret the terms dependent and independent variable. Calculate and interpret the coefficient of correlation, the coefficient of determination, and the standard error of estimate. Conduct a test of hypothesis to determine whether the coefficient of correlation in the population is zero. Calculate the least squares regression line. Construct and
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Name_____________________________ 1. Volume-based plant-wide rates produce inaccurate product cost when: A) a large share of factory overhead cost is not volume-based. B) firms produce a diverse mix of product. C) different products consume different amounts of batch-level and product level costs. D) all of the above are correct. E) None of the answers above is correct. 2. As with any costing system, a firm should use activity-based
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Thesis Organization This thesis will be organized into five chapters; the first chapter will cover the introduction and the background about the issue to be studied. This chapter covers the research problem, questions and the hypothesis to be tested and also the justification for conducting the study. The second chapter will provide a literature review on wage rate determination issues globally and in Zimbabwe. This chapter provides an overview of wage determination. Determination of wage rates
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Decision Support System (DSS) – Model 3 Like the other models proposed above, this model is designed to carry inventory to avoid delay in customers. Methodology: Forecasting: Weekly forecast is done on the basis of previous 20 weeks demand using linear regression method. Master Production Scheduling For main products alpha and beta, MPS for a given week have been designed taken into account the MPS (week t) = Forecast demand (week t) – Projects in hand (week t-1) - Scheduled Receipts + Safety stock
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Journal of Food Engineering 52 (2002) 349–357 www.elsevier.com/locate/jfoodeng Thin-layer modelling of black tea drying process P.C. Panchariya a, D. Popovic b b,* , A.L. Sharma c a Central Electronics Engineering Research Institute, Pilani 333031, India Institute of Automation Techniques, University of Bremen, D-28359, Bremen, Germany c Institute of Instrumentation, D.A. University, Khandwa Road, Indore 452017, India Received 16 March 2001; accepted 25 June 2001 Abstract An
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