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FMGT 4210 Chapter 10 (1)
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FMGT 4210 Chapter 10 (1)
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FMGT 4210 Chapter 10Coefficient of Determination - ANS-Measures the percentage of variation in Y explained by X.
Economically Plausibility - ANS-the cost drivers, x{i} under consideration as predictor variables
are actually consumed when the indirect costs are incurred.
Standard Error of Regression - ANS-Statistic that measures the variance of residuals in a
regression analysis, used as a measure of goodness of fit and how well the predicted values
match actual observations.
Standard Error of Estimated Coefficient - ANS-An indicator of how much the estimated value, b,
is likely to be affected by random factors. The t-value of the b coefficient measures how large
the value of the estimated coefficient is relative to its standard error.
Economically Plausible - ANS-Goodness of fit has meaning only if the relationship between the
cost drivers and costs is economically plausible.
Specification Analysis - ANS-Testing of the assumptions of regression analysis.
Linearity within Relevant Range - ANS-Assumption that a linear relationship exists between the
x variable and y variable within the relevant range.
Constant Variance of Residuals - ANS-Assumption that residual terms are unaffected by the
level of the cost driver.
Residual Terms - ANS-The vertical deviation of the observed value, Y, from the regression line
estimate, y.
Independence of Residuals - ANS-Assumption of independence of residuals is that the residual
term for any one observation is not related to the residual term for any other observation.
Normality of Residuals - ANS-Assumption that the residuals are distributed normally around the
regression line.
Multicollinearity - ANS-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.
Cumulative Average-Time Learning Model - ANS-Projects the reduction in the cumulative
average time it takes to complete a certain number of tasks.
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