The magnitude of the betas in a logistic regression cannot necessarily be used to determine which variables are the “most important.” Explain.
What will be an ideal response?
The units of the variables are likely different. For example, income might be listed in thousands whereas college degree is binary. One variable is continuous while the other is discrete. Therefore, the magnitude of the estimates will differ quite a bit, but the relative importance might be the equal.
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Everglades Furniture uses a process cost system to account for its chair factory. Beginning inventory consisted of 5,000 units (100% complete as to material, 55% complete as to labor) with a cost of $124,800 materials and $104,500 conversion. 58,000 units were started into production during the month with material costs of $1,537,000 and $2,124,375 of conversion costs. The ending inventory of 6,000 chairs was 100% complete as to materials and 40% complete as to labor. Everglades uses first-in, first-out (FIFO) costing.Required: (use 4 decimal places in your calculations)a. Compute the equivalent units of production for each input.b. Compute the cost per equivalent unit.c. Compute the cost transferred out to finished goods.d. Compute the ending work-in-process inventory balance.
What will be an ideal response?
?If the actual inflation rate in an economy is 6% and the ideal inflation rate is 4%, the inflation gap in the economy is
A. ?-2%. B. ?-4%. C. ?2%. D. ?6%.
In the journalizing process, the exact account titles shown in the chart of accounts must be used
Indicate whether the statement is true or false
Probability sampling relies on the personal judgment of the researcher, rather than chance, in selecting sampling elements
Indicate whether the statement is true or false