Discuss the concept of multicollinearity.
What will be an ideal response?
Multicollinearity is a situation in which several independent variables are highly correlated with each other. This characteristic can result in difficulty in estimating separate or independent regression coefficients for the correlated variables. Since multicollinearity can create problems in using regression, analysts must always examine the logic of the signs and significance levels of the regression betas when independent variables are highly correlated. If a hypothesized relationship is the opposite of what is anticipated, one must look at a simple bivariate correlation of the two variables.
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Elizabeth works with the gaming production team at her job, so the leader of that group often assigns her work, but she also has a boss in the marketing department. Which of the following is most likely true?
A. There is likely to be a lack of common purpose among her managers. B. Her workplace has too much division of labor. C. Her work arrangement violates the unity of command principle. D. Because of her cross-functional team, her work can be done without coordinated effort. E. Her production team leader has too wide a span of control.
When speaking to a customer, ask questions with positive wording to encourage feedback and clarify details.
Answer the following statement true (T) or false (F)
Which of the following was not a description of Ann Hopkins that appeared in the comments from the partners at Price Waterhouse?
a. "Macho" b. "Outstanding professional" c. "Extremely competent, intelligent" d. All of the above were comments made by the partners
Sevenbergen Corporation makes one product and has provided the following information to help prepare the master budget for the next four months of operations: Budgeted selling price per unit$92Budgeted unit sales (all on credit): July 9,000August 11,300September 10,400October 10,800? Raw materials requirement per unit of output 4poundsRaw materials cost$1.00per poundDirect labor requirement per unit of output 2.8direct labor-hoursDirect labor wage rate$22.00per direct labor-hourVariable selling and administrative expense$1.50per unit soldFixed selling and administrative expense$70,000per month?Credit sales are collected: 40% in the month of the sale 60% in the following month?Raw materials purchases are paid: 30% in the month of purchase 70% in the
following month?The ending finished goods inventory should equal 20% of the following month's sales. The ending raw materials inventory should equal 30% of the following month's raw materials production needs.?The budgeted sales for August is closest to: A. $993,600 B. $1,039,600 C. $828,000 D. $956,800