Which of the following is not one of the common mistakes in negotiation?
a. Irrational escalation of commitment
b. Winner’s curse
c. Overconfidence
d. Medium fixed pie
d. Medium fixed pie
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According to goal-setting theory, which of the following is necessary for goals to create high motivation and performance?
A. Setting general goals that will work for multiple employees. B. Predetermining acceptable rewards for meeting goals. C. Setting goals that fulfill self-actualization needs. D. Reinforcing of desired behaviors. E. Setting goals linked to an action plan.
An Excel __________ quantifies the impact of changing the value of a specific input on an output of interest.
A. Watch Window B. Data Table C. Goal Seek D. Chart
Recording incurred but unpaid expenses is an example of an accrual
Indicate whether the statement is true or false
Clough Company is interested in establishing the relationship between utility costs and machine hours. Data have been collected and a regression analysis prepared using Excel. The monthly data and the regression output follow:MonthMachine HoursUtilityCostsJanuary3,250$22,080 February3,770 25,200 March2,470 16,200 April4,030 27,600 May4,940 33,900 June4,290 26,400 July5,330 29,700 August4,550 27,300 September2,600 18,600 October4,810 31,200 November6,110 37,200 December5,460 33,300 SUMMARY OUTPUTRegression StatisticsMultiple R96.5%R Square93.2%Adjusted R-Square92.5%Standard Error1,710.21 Observations12.00 CoefficientsStandard Errort StatP-valueLower 95%Upper 95%Intercept4,472.262,019.392.210.051-27.238971.74Machine
Hours5.3290.45511.703.69E-074.3146.343Required:(a.) What is the equation for utility costs using the regression analysis?(b.) Does the variable "machine hours" have statistical significance? Explain.(c.) Prepare an estimate of utility costs for a month when 3,000 machine hours are worked. What will be an ideal response?