Discuss the similarities and differences among ANOVA, regression, and discriminant analysis (Table 18.1 in the text)
What will be an ideal response?
All three procedures involve a single criterion or dependent variable and multiple predictor or independent variables. However, the nature of these variables differ. In analysis of variance and regression analysis, the dependent variable is metric or interval scaled (amount of life insurance purchased in dollars), whereas in discriminant analysis it is categorical (amount of life insurance purchased classified as high, medium, or low). The independent variables are categorical in the case of analysis of variance (age and income are each classified as high, medium, or low) but metric in the case of regression and discriminant analysis (age in years and income in dollars, i.e., both measured on a ratio scale).
Two-group discriminant analysis, in which the dependent variable has only two categories, is closely related to multiple regression analysis. In this case, multiple regression, in which the dependent variable is coded as a 0 or 1 dummy variable, results in partial regression coefficients that are proportional to discriminant function coefficients.
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A benefit of e-HRM is that employees can help themselves to information they need when they need it, instead of contacting an HR staff person.
Answer the following statement true (T) or false (F)
Frankin Corporation has provided the following data concerning last month's operations. Purchases of raw materials$26,000Indirect materials included in manufacturing overhead$6,000Direct labor cost$58,000Manufacturing overhead applied to Work in Process$97,000 BeginningEndingRaw materials inventory$11,000 $17,000 Work in process inventory$52,000 $66,000 How much is the cost of goods manufactured for the month on the Schedule of Cost of Goods Manufactured?
A. $221,000 B. $155,000 C. $169,000 D. $175,000
Managers' concerns about the quality of a product or service include customer expectations and perceptions
Indicate whether the statement is true or false
Franklin Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on August 31, its Cash account shows a debit balance of $13,162. Franklin's August bank statement shows $14,237 on deposit in the bank. Determine the adjusted cash balance using the following information: Deposit in transit$4,500 Outstanding checks$3,900 Bank service fees, not yet recorded by company$50 The bank collected on a note receivable, not yet recorded by the company$1,725 The adjusted cash balance should be:
A. $10,337 B. $18,737 C. $13,112 D. $14,887 E. $14,837