Question 16 2 out of 2 points the learning curve in

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Question 16 2 out of 2 points The learning curve in cost estimation is a
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good example of: Answer Selected Answer: Question 17 2 out of 2 points A data point that is outside the normal distribution of data, called an "outlier," is often removed from the data set before analysis because it: Answer Selected Answer: Question 18 2 out of 2 points The identification of cost drivers is perhaps the most important step in developing the cost estimate because: Answer Selected Answer: Question 19 2 out of 2 points
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This question is based on analyzing the relationship of total factory overhead (Y) to direct labor hours (X). The following relationship was found: Y = $1,000 + $2X. This equation was probably found through the use of which of the following mathematical techniques? Answer Selected Answer: Question 20 2 out of 2 points A manager uses regression to express sales as a function of advertising expenditures (X 1 ), and per capita income (X 2 ) in your sales area. The following multiple linear regression equation is developed: Y = 10 + .51X 1 + .45X 2. The coefficient of determination is. 96. Determine
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which of the following conclusions is valid regarding the coefficient of determination: Answer Selected Answer: Question 21 2 out of 2 points The maintenance expenses of a company are to be analyzed for purposes of constructing a flexible budget. Examination of past records disclosed the following costs and volume measures: Highest and Lowest: Cost per month $20,000 and $14,000; Machine hours 55,000 and 35,000. Using the high- low technique, estimate the annual fixed cost for maintenance expenditures: Answer Selected Answer: $42,000.
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Question 22 2 out of 2 points Burmer Co. has accumulated data to use in preparing its annual profit plan for the upcoming year. The cost behavior pattern of the maintenance costs must be determined. The accounting staff suggested that linear regression be employed to derive an equation for maintenance hours and costs. Data regarding the maintenance hours and costs for the last year and the results of the regression analysis are as follows:
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Average cost per hour ($51,830 ÷ 6,260) = $8.28 (rounded to the nearest cent) r = . 99821 r 2 = .99642 Using the high- low method, total monthly fixed cost is calculated to be (rounded): Answer Selected Answer: $716. Question 23 2 out of 2 points Which of the following means that two or more independent variables are highly correlated with each other? Answer
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Selected Answer: Multicollinearity. Question 24 2 out of 2 points When there are two or more cost drivers, regression is termed: Answer Selected Answer: Multiple. Question 25 2 out of 2 points The following costs were for Optimal View Inc., a contact lens manufacturer: At an output level of 500 lenses, per unit total cost is projected to be: Answer Selected Answer: $50.40. Question 26
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2 out of 2 points The standard error of the estimate (SE) in a regression analysis is: Answer Selected Answer: Question 27 2 out of 2 points The maintenance expenses of a company are to be analyzed for purposes of constructing a flexible budget. Examination of past records disclosed the following costs and volume measures: Highest and Lowest: Cost per month $42,000and $34,000; Machine hours 46,000 and 30,000. Using the high-low method, the estimated variable cost per machine hour is: Answer Selected Answer: $0.50 Question 28
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2 out of 2 points Nellibell's Café bakes croissants that are sold to local restaurants and grocery stores
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