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The F–test
The significance of the regression results can be tested by using the F- statistics. The F-statistics is a ratio which compares the explained sum of squares and the unexplained sum of squares.Therefore, F = mean sum of squares due to regression Mean sum of squares due to residualFor calculation purposes:F = r2 /K (1 – r2)/n-k-1F statistics can then be used to test the hypothesis that the relationship between the dependent variables and all the independent variables is not significant.
Suggestion system The suggestion system is as integral part of an established management system that aims at involving employees in kaizen. The number of worker s suggestion i
The Knapp Company needs to predict the labor cost in producing small carrot patch dolls. The following production information is available: Year Dolls Pr
Parameter prediction error: This is another aspect of faulty planning. As Hongren says, ‘planning decisions are based on predictions of future costs, future selling price, fut
what is management
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Hornsby Manufacturing has four categories of overheads. The four categories and the expected overhead costs for each category for next year are as follows: Maintenance $140,000
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