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WHAT YOU NEED TO KNOWRegression analysisis a statistical method that measures the average amount of change in the dependent variable associated with a unit change in one or more independent variables.The other answers are incorrect.
The high-low method is the simplest form of quantitative analysis to “fit” a line to data points using the highest and lowest observed values of the cost driver within the relevant range.The account analysis method is a method of cost estimation that estimates cost functions by classifying various cost accounts as variable, fixed, or mixed in regards to the identified level of activity.The industrial engineering method is a method of cost estimation that estimates cost functions by analyzing the relationship between inputs and outputs in physical terms.
QUESTIONREVIEWING 1 OF 3 Which of the following is true of a nonlinear cost function?
QUESTIONREVIEWING 2 OF 3 Which of the following is least likely to indicate a cause-and-effect relationship?ANSWERI DON'T KNOW YET
QUESTIONREVIEWING 3 OF 3 Assume that the slope coefficient is $10 and the intercept is $8,400. What is the total cost for 4,000 units, if the cost behavior is approximated by a linear cost function?ANSWERI DON'T KNOW YET
QUESTIONREVIEWING 1 OF 5 Which of the following is true of a nonlinear cost function?