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 internet for marketing communications, How you Google's do expected...

How you Google's do expected dominance of the online display advertising market will affect marketers who already use the Internet for marketing communications? Will its push into

Explain accounting, Explain accounting. Accounting: It is an art of c...

Explain accounting. Accounting: It is an art of classifying and recording data. Now there data refers to transactions having monetary or financial values. As per to this, acc

Describe the factors that influence consumer''s buying, Why is it important...

Why is it important for marketers to fully understand today's consumer behavior? Explain the factors that influence consumer's buying behavior.

#title, Ask question #Mi.. Explain how the consideration of environmental a...

Ask question #Mi.. Explain how the consideration of environmental assesments AND ORGANISATION position provide a modeling framework for strategic planning of operations.

How do strategic sources help long-term business process, Question 1: W...

Question 1: What are the main characteristics of a Supply Chain? Mutually linked companies and Supplier-Customer relationships Gathers products from supplier to customer al

Explain why employees join unions, Over which of the principle reasons why ...

Over which of the principle reasons why employees join unions does a supervisor have the most direct control?

Operation research, what is or ? Features and limitations of or?

what is or ? Features and limitations of or?

Explain pipeline transportation system for treated water, The network in fi...

The network in figure below shows the pipeline transportation system for treated water from the treatment plant (node 1) to a city water supply system (node 14). The arc capacities

Why company declines to correct the flaw, Scenario 2: A supervisor discover...

Scenario 2: A supervisor discovers a design flaw, which she believes is a safety hazard. She informs the company through the proper channels. The company declines to correct the fl

Describe the term orginizational culture, Define the term orginizational cu...

Define the term orginizational culture. How might this company information enhance a sales presentation?

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