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solniwko [45]
3 years ago
7

A random sample of records of sales of homes from February 15 to April 30, 1993, from the files maintained by the Albuquerque Bo

ard of Realtors gives the Price and Size (in square feet) of 117 homes. A regression to predict Price (in thousands of dollars) from Size has an R-squared of 71.4%. The residuals plot indicated that a linear model is appropriate.
Required:
a. What are the variables and units in this regression?
b. What units does the slope have?
c. Do you think the slope is positive or negative? Explain.
Business
1 answer:
AysviL [449]3 years ago
8 0

Answer:

A)

i) Size( x )  ( measured in ft^2 )

ii) Price ( y ) ( measured in dollars )

B) unit of slope = dollar per square foot

C) slope will be positive

Explanation:

A) The variables and units in this regression are

i) Size( x )  ( measured in ft^2 )

ii) Price ( y ) ( measured in dollars )

<u>B) Units of the slope </u>

unit of slope = dollar per square foot (i.e.  y / x )

C)  The slope will be positive given that the increase of home size is directly proportional to the increase in price

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Nicole owns a small organic spice company called RaisaSpice and was looking for a new product to add to her company's line. A fr
DENIUS [597]

Answer:

Market Testing Stage

Explanation:

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4 years ago
Bradshaw Company provided the following data: Standard fixed overhead rate (SFOR) $5 per direct labor hour Actual fixed overhead
bezimeni [28]

Answer:

1. 60,000 hours

2. $300,000

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Explanation:

1. The computation of the standard hours allowed for actual production is shown below:

= Actual production × Standard hours allowed per unit

= 15,000 units × 4 hours

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2. The computation of the applied fixed overhead is shown below:

= Standard hours allowed for actual production × Standard fixed overhead rate

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8 0
3 years ago
Phil enters into a contract with Quality Resorts, Inc., to work as a chef. Under the plain meaning rule, the meaning of this con
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Answer:

"The face of the instrument"

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OlgaM077 [116]

Answer:

Yes.

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= $3.75 ÷ $1.25

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