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Std error of the slope (Sb)
Correlation coefficient measures the degree of association between two variables such as the cost and the activity level.
The standard error of ‘b’ coefficient can be expressed as follows:
For calculation purposes,
We can then use Sb to construct confidence intervals using t distributions such that the true variable cost, B, will be:
b – tcSb ≤ B ≤ b + tcSb
Where b is the estimated value of B
The standard cost of chemical mixture ~ PQ’ is as follows: 40% of material P @ Rs. 400 per kg. 60% of material Q @ Rs. 600 per kg. A standard loss of 10% is normally anticipated in
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I only need the formulas in excel put in.
what is the topic about? what are the practical implications? what are the practical criticisms?
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