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REGRESSION ANALYSIS
A regression equation identifies an estimated relationship between a dependent variable (the cost) and one or more independent variables (the cost driver). When the equation includes only one independent variable then it is referred to as simple regression and its form is:
Where,
Y is the predicted value of Ya and b are Constantx is the cost driverWhen the equation includes 2 or more independent variables, it is referred to as multiple regression and is of the form:
Y = a + b 1 x1 + b2 x2 + …….bn xn for n independent variables.
Model Construction The success of a simulation exercise is related to the predictive quality of the underlying model, so that considerable care should be taken with model const
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Hickory Company manufactures two products—14,000 units of Product Y and 6,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is cons
The production department has been investigating possible ways to trim total production costs. One possibility currently being examined is to make the paint cans instead of purchas
1. In order to boost the housing market throughout 2009 and into 2010, the federal government offered a tax credit to first-time home buyers and some repeat buyers.
Illustration: ABC analysis Combine items on the basis of their relative value to form three categories—A, B and C. The data in the table below illustrates the ABC analysis.
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identify and explain the many classification of costs for planning, control.performance evaluation and decision making.
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A manufacturing company needs 2500 units of a particular component every year. The company buys it at the rate of Rs. 30 per unit. The order processing cost for this part
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