29 Jun Question 1. Question : The R-squared in a satisfactory regression should be:
Question
1. Question : The R-squared in a satisfactory regression should be:
less than .3
greater than .3
less than .7
greater than .7
Question 2. Question : Which of the following is not one of the main issues regarding data collection which can significantly affect precision and reliability when using regression or any other cost estimation method?
Data accuracy.
Time period choice.
Nonlinearity.
Relevant range.
Question 3. Question : A range around the regression line within which the management accountant can rely that the actual value of the predicted cost will fall is referred to as:
A relevant range.
A goodness of fit.
A confidence interval.
A t-value
A p-value.
Question 4. Question : Which of the following is required for multiple regression?
The use of dummy variables.
The use of more than one cost driver.
The use of more than one dependent variable.
The use of a trend variable.
The use of multiple sets of data.
Question 5. Question : The CVP profit-planning model assumes that over the relevant range of activity:
Only revenues are linear.
Only revenues and fixed costs are linear.
Only revenues and variable costs are linear.
Variable cost per unit decreases because of increases in productivity.
Both revenues and total costs are linear.
Question 6. Question : The breakeven point is:
The sales volume at which revenues equal total cost plus an operating profit of zero.
The sales volume at which revenues equal variable cost and profit is zero.
The sales volume at which revenues equal fixed cost and profit is zero.
The point at which revenues meet the budget target.
The sales volume at which the total contribution margin exceeds total variable costs.
Question 7. Question : Cost-volume-profit (CVP) relationships that are curvilinear may be analyzed linearly by considering only:
Fixed and semi-variable costs.
Relevant fixed costs.
Relevant variable costs.
A relevant range of volume.
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