Explain regression equation relating expected travel, Operation Management

Assignment Help:

Accountants at the firm Walker and Walker believed that several traveling executives submit unusually high travel vouchers when they return from business trips. The accountants took a sample of 200 vouchers submitted from the past year; they then developed the following multiple regression equation relating expected travel cost (Y) to number of days on the road (X1) and distance traveled (x2) in miles:

YN = $90.00 + $48.50X1 + $0.40X2

The coefficient of correlation computed was 0.68.


(a) If Thomas Williams returns from a 300-mile trip that took him out of town for five days, what is the expected amount that he should claim as expenses?

(b) Williams submitted a reimbursement request for $685; what should the accountant do?

(c) Comment on the validity of this model. Should any other variables be included? Which ones? Why?


Related Discussions:- Explain regression equation relating expected travel

Define the advantages and risks of supplier co-location, Discuss the advant...

Discuss the advantages and risks of supplier co-location?

Explain recreation collects data on the number of cars, A state department ...

A state department of tourism and recreation collects data on the number of cars with out-of-state license plates in a state park. (The group's position is that more out-of-state p

The study of global business is relevant to work company, Discuss the follo...

Discuss the following theory: The study of global business is relevant if you work or plan to work in a large multinational company, but it has little or no significance for indivi

Explain the benefits of using erds in database design, What are the benefit...

What are the benefits of using ERDs in database design, implementation, and documentation? How does a design tool like a Microsoft Visio diagram help the organization create and do

Explain what additional steps should the quality assurance, A quality analy...

A quality analyst wants to construct a sample mean chart for controlling a packaging process. He knows from past experience that the process standard deviation is two ounces. Each

Explain what are the impacts of culture on motivation, What are the impacts...

What are the impacts of culture on motivation? Are all cultures motivated by the same thing? Is there a slant in the research? Is there a theory you believe would work across cultu

Explain definition of a project, Definition of a Project •Analyze how proje...

Definition of a Project •Analyze how project management supports the concept of strategic planning.

Explain ethical principle each violates, Identify three potential unethical...

Identify three potential unethical actions or inactions related to decision analysis and the ethical principle each violates?

Explain suppose you run hr at a large organization, Suppose you run HR at a...

Suppose you run HR at a large organization. How will you determine supply and demand? How will employee turnover factor into your decisions? Suppose you want to retain your two

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd