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babunello [35]
3 years ago
5

Ben and Mildred's Stables used two different independent variables (trainer hours and number of? horses) in two different equati

ons to evaluate the cost of training horses. The most recent results of the two regressions are as follows:
Trainer's hours: Variable Coefficient Standard Error t-Value Constant $1,005.45 $217.52 4.61 Independent Variable $22.54 $3.23 7.40 r2 = 0.56 Number of horses: Variable Coefficient Standard Error t-Value Constant $5,240.20 $1,180.32 4.44 Independent Variable $22.54 $3.23 4.75 r2= 0.63
What is the estimated total cost for the coming year if 14,700 trainer hours are incurred and the stable has 310 horses to be trained, based upon the best cost driver?
A. $13,995,671.20
B. $7,992.85
C. $332,343.45
D. $300,276.50
Business
1 answer:
liubo4ka [24]3 years ago
7 0

Answer:

the estimated total cost for the coming year is $12,227.60

Explanation:

The computation of the estimated total cost is shown below:

y

= Constant coefficient + independent variable coefficient × number of horses

= $5,240.20 + $22.54 × 310 horses

= $5,240.20 + $6,987.40

= $12,227.60

This is the answer but not the same is to be given in the options

hence, the estimated total cost for the coming year is $12,227.60

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Answer:

<em>c. The reasoning of both Alfons and Mary suffers from the omitted variable problem</em>

Explanation:

The issue of omitted variables occurs as a result of mis-specification of a linear regression model, which could be either because the impact of the omitted variable on both the dependent variable is unclear, or the evidence was not accessible.

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3 years ago
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balandron [24]

Answer:

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tiny-mole [99]

Answer:

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7 0
3 years ago
Suppose you can afford to invest $1,000 each month into an account that pays 15% per year. How many years will you need to make
myrzilka [38]

Answer:

Explanation:

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3 years ago
A comprehensive evaluation of the group of businesses a company has diversified into involves: a.evaluating the attractiveness o
MariettaO [177]

Answer:

All of the options

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