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

Explain the most appropriate form of ownership, Go to this website www.worl...

Go to this website www.worldfranchising.com . Select any of the hottest new franchises that interest you.. View the site and identify the information about the financial requiremen

Demand curve for commodity , (1) The following table presents Mary's margi...

(1) The following table presents Mary's marginal utility for each of the four goods she consumes to exhaust her income. The price of Good 1 is $1, the price of Good 2 is $2, the p

Compute sample size to confirm or not the findings, If a pilot test reveale...

If a pilot test revealed 45% perceived poor service quality, and we decide the interval range is + 10 percent with a 95% confidence level, what is the calculated sample size to con

Explain silicon border play a role in mexico hi tech, How can Silicon borde...

How can Silicon border play a role in Mexico Hi tech manufacturing for US companies and the US market?

Describe is it important to stress quality in a logistic sys, Is it importa...

Is it important to stress quality in a logistic system?

Explain a recruitment process, Describe a recruitment process that would pr...

Describe a recruitment process that would provide a pool of pre-qualified candidates for the seven open trainer positions.

What are hr as a competitive advantage, Hr as a competitive advantage: I ne...

Hr as a competitive advantage: I need research on the above subject with reference and cited.

Explain should you raise or lower price, If elasticity is -2, price is $10,...

If elasticity is -2, price is $10, and marginal cost is $8, should you raise or lower price?

Explain supply chain might also benefit the national economy, The bullwhip ...

The bullwhip effect is often blame for the boom-and-bust cycles in our national economy. Which of the remedies for eliminating this effect in a supply chain might also benefit the

Describe the legalese of bribery and bartering, Discuss the legalese of bri...

Discuss the legalese of bribery and bartering? Compare and contrast business ethics of two foreign countries.

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