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Hitman42 [59]
3 years ago
8

An economist conducted a study of the possible association between weekly income and weekly grocery expenditures. The particular

interest was whether higher income would result in shoppers spending more on groceries. A random sample of shoppers at a local supermarket was obtained, and a questionnaire was administered asking about the weekly income of the shopper’s family and the grocery bill for that week. The gender of the shopper was also obtained. The least squares line had a slope of 0.079 . The average amount by which the grocery bill increases for an increase of $100 per week is given by:a. $7.9 .b. The answer cannot be determined from the information provided.c. $0.079 .d. $10.0 .
Business
1 answer:
krek1111 [17]3 years ago
4 0

The answer cannot be determined from the information provided.

Answer: Option B.

<u>Explanation:</u>

A linear regression line has an equation in the form Y = a + bX, where X stands for the explanatory variable and Y is used to denote the dependent variable in the equation. The slope of the line is b, and a is the intercept (the value of y when x = 0).

A regression line (LSRL - Least Squares Regression Line) is a straight line that explains how a dependent variable y changes as an explanatory variable x changes. The line is a mathematical model used to predict the value of y for a given x. Regression requires that we have an explanatory and response variable.

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Defend or critique the following statement, using supporting evidence: “Getting to work early on your first day at a new job is
frez [133]

Answer:

Dressing well, being prepared, having a positive attitude, arriving early for work and asking good questions.

Explanation:

5 0
3 years ago
In order to avoid project delays, project managers confronted with a resource overload will seek to delay some of the noncritica
Westkost [7]

Answer: True

Explanation:

When a project manager is confronted with resource overload, an activity that is not on the critical path can be delayed in order not to unnecessarily delay the project. The non-critcal activities can be delayed than an amount no longer than the slack period. This levels demand for that worker.

3 0
3 years ago
Winsor Clothing Store had a balance in the Accounts Receivable account of $760,000 at the beginning of the year and a balance of
natulia [17]

Answer:

The correct answer is 40.6 days. None of the options is correct.

Explanation:

The average collection period of the accounts receivable is how long it takes the company to collect its accounts receivable. It is expressed as: (Average accounts receivable / Net credit sales) x 365 days.

Average collection period = [($760,000 + $840,000)/2 / $7,200,000] x 365 days =  40.6 days

This means it takes the company 40.6 days to collect its accounts receivable.

5 0
3 years ago
Lancelot Manufacturing is a small textile manufacturer using machine-hours as the single indirectcost rate to allocate manufactu
Scrat [10]

Answer:

D) = $3,927

Explanation:

<em>The cost of a product is the addition of direct material cost + direct labour cost + manufacturing overheads</em>

<em>Overhead absorption rate</em><em> = </em><em>Budgeted Overheads/ Budgeted machine hours</em>

= $45,000/100,000 hours

= $0.45

<em>Product cost</em><em> </em>= 2,000 + 400 + (0.45× 900)

                     = $2,805

<em>Bid price</em> = Product + ( mark up)

            = 2,805 + (40% × 2,805)

            = $3,927

<em>Bid price</em>   = $3,927

5 0
3 years ago
Assume you own 300 shares of ABC stock and recieve a stock dividend of 5%. As a result, the number of shares you own will change
kondaur [170]

Answer:

correct option is B. 315: 0

Explanation:

given data

existing share = 300 shares

stock dividend = 5%

to find out

number of shares you own will change and total wealth will increase by

solution

we get here new no of share that is express as

new no of share = existing share + ( stock dividend × existing share )    ...........1

put here value we get

new no of share = 300 + ( 5% ×300 )

new no of share = 300 + 15

new no of share = 315

and

stock dividend is not increase either company wealth or the stockholder wealth

so no of share increase with decrease per share

so that there is no change in wealth

so correct option is B. 315: 0

6 0
3 years ago
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