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

Lean Synchronisation, Examples of organisations that practice Lean synchron...

Examples of organisations that practice Lean synchronisations

Describe several advantages of linear programming, Discuss several advantag...

Discuss several advantages of linear programming; clearly explain the reasons for your choices.

Explain what does the supervisor need to be most careful, What does the sup...

What does the supervisor need to be most careful of in following up on delegation? Why?

Make a scope statement for a coffee shop, Prepare a scope statement for a c...

Prepare a scope statement for a coffee shop. Remember to be tangible, measurable, and specific. The components: Project Objective, Deliverables, Milestones, Technical Requirements,

Define what differences exist in their operations strategies, Using the inf...

Using the information about Pal's Sudden Service provided in this chapter, apply Hill's generic strategy framework in a similar fashion as the McDonald's example. How do the strate

Partial factor and total factor productivity, Consider - a small manufactur...

Consider - a small manufacturing company which produces high quality furniture has provided the following data:                                                                 2

Evaluate the utility and relevance of management, The OM module is assesse...

The OM module is assessed by an individual written report that deals with the application of one or more aspects of the theory taught on the course in the context of an organisatio

Explain international monetary fund, After reading your assigned readings o...

After reading your assigned readings on international monetary policy in this unit, visit the global beverage company of your choice. Note the number of different countries that th

Develop a competitor profile for your college, Develop a competitor profile...

Develop a competitor profile for your college and for the college geographically closest to yours next prepare a brief strategy strategic plan is to improve the competitive positio

Explain briefly how a leader can recognize regressive cycle, Describe brief...

Describe briefly how a leader can recognize a regressive cycle and what should the leader's response be?

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