The divisor of the standard error of estimate in a simple linear regression is n - 2
Indicate whether the statement is true or false
TRUE
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Audit risk is the probability that the auditor will render an unqualified opinion on financial statements that are materially misstated
Indicate whether the statement is true or false
Forty percent of the students who enroll in a statistics course go to the statistics laboratory on a regular basis. Past data indicates that 65% of those students who use the lab on a regular basis make a grade of A in the course. On the other hand, only 15% of students who do not go to the lab on a regular basis make a grade of A. If a particular student made an A, determine the probability that she or he used the lab on a regular basis.
What will be an ideal response?
Street Bikes, Inc, makes and sells a bicycle to Theo. Street Bikes fails to exercise "due care" to make the bicycle safe, however, and Theo is injured as a result. Street Bikes is most likely liable for A) assumption of risk
B) commonly known danger. C) negligence. D) ?product misuse.
Wineman Incorporated makes a single product-an electrical motor used in many long-haul trucks. The company has a standard cost system in which it applies overhead to this product based on the standard machine-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Budgeted (Planned) Overhead: Budgeted variable manufacturing overhead$153,425 Budgeted fixed manufacturing overhead 352,925 Total budgeted manufacturing overhead$506,350 Budgeted production (a) 25,000units Standard hours per unit (b) 1.90machine-hours Budgeted hours (a) × (b) 47,500machine-hours Applying Overhead: Actual production (a) 23,000units Standard hours per unit (b) 1.90machine-hours Standard hours allowed for
the actual production (a) × (b) 43,700machine-hours Actual Overhead and Hours: Actual variable manufacturing overhead$107,000 Actual fixed manufacturing overhead 336,925 Total actual manufacturing overhead$443,925 Actual hours 42,800machine-hours ?The variable overhead efficiency variance is: A. $2,250 U B. $2,250 F C. $2,907 F D. $2,907 U