Answer:
B. The firm believes in maintaining a certain amount of excess capacity to meet unexpected changes in demand.
Explanation:
Production possibility curve shows the different combinations of two products that can be manufactured by a business. The production possibility frontier is the maximum combination of products a business can produce with given resources.
Beyond this point increase in production of one will lead to decreased production of the other.
So if excess stock of both products is being kept in anticipation of demand, the company is still operating within its PPF and has excess resources.
The payment of interest and principal on these bonds is secured by the: A. full faith and credit of Toga County Corporation B. ships and other equipment pledged as collateral by the company C. securities of the company which have been pledged as collateral under a subordination agreement D. mortgages on the real property owned by the corporation
Answer:
a. full faith and credit of Toga County Corporation
Explanation:
Since these bonds are debentures ( i.e bonds issued by public companies to raise money from the market), they are backed solely by the full faith and credit of the Toga County Corporation. So there is no property backing these bonds.
Arturo company pays $4,130,000 cash and issues 28,200 shares of its $2 par value common stock (fair value of $50 per share) for all of westmont's common stock in a merger, after which westmont will cease to exist as a separate entity. stock issue costs amount to $32,400 and arturo pays $49,800 for legal fees to complete the transaction.
Answer:
investment on Westment 4,212,200 debit
Cash 4,212,200 credit
Explanation:
For the investment, we should include all the cost necessary to acquire the shares:
Total cost:
stocks issued cost 32,400
legal fees 49,800
cash to acquire the shares 4,130,000
TOTAL 4,212,200
We will create the investment account for this total and credit the cash
Island Breeze Company designs and makes desk, window, and ceiling fans. In a product liability suit based on negligence, Island Breeze could be liable for violating its duty of care with respect to all of the following except
a. the design of the fans.
b. the production process used to make the fans.
c. the warnings on the labels of the fans.
d. a consumer's unforeseeable misuse of a fan.
Answer:
Option D is correct
Explanation:
The company is liable for proper communication of cautions, defective designs and production processes that she uses to manufacture the product but it is not liable for the the consumer unforeseeable misuse of a fan. Because it is not associated with the duty of care. I also have a duty of care to myself like you have to yourself. If I have struck myself with a hammer then it unjustifiable to sue the company. I am misusing that hammer. I don't have the license but still I am driving car, it means I am misusing the asset. This means some operations are restricted by law and some are implicitly restricted.
Assume that the Candyland economy produced approximately 150 candy bars, 80 bags of caramels, and 30 solid chocolate bunnies. If the average price of candy bars is $3, the average price of caramel bags is $2, and the average price of chocolate bunnies is $10, the market value of chocolate bunnies is $: Please choose the correct answer from the following choices, and then select the submit answer button. a. 300. b. 160. c. 450. d. 910.
Final answer:
The market value of chocolate bunnies, given they are 30 in quantity and priced at an average of $10 each, is $300.
Explanation:
The question asks for the market value of chocolate bunnies given their quantity and average price. To find the market value, we multiply the quantity of chocolate bunnies by their average price. Specifically, the calculation involves 30 solid chocolate bunnies at an average price of $10 each.
To calculate: Market Value = Quantity × Average Price = 30 bunnies × $10 per bunny = $300.
Thus, the market value of the chocolate bunnies is $300.
The correct answer is (a) $300.
All of the following statements are TRUE about variable annuities EXCEPT: (A) Monies invested are professionally managed in accordance with the objective of the holder. (B) Variable annuities protect the investor against capital loss. (C) The portfolio can consist of shares of other mutual funds. (D) Changes to the investment objective require a majority vote of the shareholders.
Answer:
The correct answer is B
Explanation:
Variable annuity is the kind of the annuity contract or an agreement, the value of which could vary or changes grounded on the performance of the underlying portfolio of the mutual funds.
The annuities differ from those of the fixed annuities, which provide the guaranteed as well as particular return.
Variable annuity is both a securities as well as an insurance product. So, the annuitant assumes that the investment risk of this annuity and will not be protected against the capital losses of the insurance company.
The statement B is false as, variable annuities do not inherently protect investors against capital loss. The other statements are TRUE or generally accurate representations of variable annuities. However, it's important to carefully review the terms and features of any specific variable annuity contract as they can vary among providers.
Variable annuities are complex financial products that combine aspects of insurance and investment. Let's examine each of the given statements to see why B is FALSE:
(A) Monies invested are professionally managed in accordance with the objective of the holder: This statement is TRUE. Variable annuities typically offer a range of investment options, often including professionally managed sub-accounts that are aligned with the annuity holder's investment objectives.
(B) Variable annuities protect the investor against capital loss: This statement is FALSE. Variable annuities do not provide a guarantee against capital loss. The value of the annuity's investment account can fluctuate based on the performance of the underlying investments, and there is no protection against market downturns. However, some optional riders or features may be added for an additional cost to provide some level of downside protection, but these are not inherent to variable annuities.
(C) The portfolio can consist of shares of other mutual funds: This statement is TRUE. Variable annuity sub-accounts often allow investors to allocate their funds into various investment options, including shares of other mutual funds. This diversification can help spread risk.
(D) Changes to the investment objective require a majority vote of the shareholders: This statement is generally FALSE. In the context of variable annuities, investment decisions are typically made by the annuity holder, not by a majority vote of shareholders. Annuity holders have the flexibility to switch between the available investment options within their annuity without requiring shareholder approval. However, it's worth noting that variable annuity contracts and rules may vary among providers, so it's important to review the specific terms of the contract to confirm the process for making changes.
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In the context of the external environment of an organization, the task environment: a. is formed by the interaction among a community of organizations. b. is composed of current employees, management, and especially corporate culture. c. affects organizations indirectly and eventually. d. includes the sectors that conduct day-to-day transactions with the organization.
Answer:
In the context of the external environment of an organization, the task environment: includes the sectors that conduct day-to-day transactions with the organization.
Explanation:
In an organization setting, what is tagged as external environment entails the sectors that transacts with the organization on a day-to-day routine. Their forms of relationship on daily basis makes them to serve as external environment, they could be clients as the case may be.
Karl Harris, a marketing critic, is concerned about the pervasiveness of marketing. He points out that advertising messages are everywhere, from Web sites and e-mails to unwanted direct mail and catalogs to television commercials and product tie-ins to billboards and store signage. Karl is concerned about ________.
Answer:
Viral Marketing
Explanation:
Viral marketing is the use of every possible medium to promote a product. This medium includes but not limited to the use of newsletters , billboards, hand bills , social media , e books and internet.
The aim is to leverage on the social and networking media to extend the coverage of advertisements of goods and services.
Despite its advantages in coverage and cost , disadvantages include spam threats and loss of the power of brands
The management and employees of We Move You, a large household goods moving company, decided to adopt total quality management (TQM) and continuous improvement (CI). They believed that, if their company became nationally known as adhering to TQM and CI, one result would be an increase in the company’s profits and market share. Quality is achieved more economically if We Move You focuses on _________.a. Appraisal costs.
b. Prevention costs.
c. Internal failure costs.
d. External failure costs.
Answer:prevention cost
Explanation:because you will be paying more
Tom and Stacey are work on competing projects at work. They frequently need the same resources at the same time. The coworkers have dealt with the problem for a long time and have come to no resolution.Which strategy should the coworkers use to resolve the conflict?
Explanation:
Meditation is a very simple process which should be followed for peace of mind, calmness, mental relaxation and for various other benefits.
Since there are too much of conflict exists between coworkers, it is better if the coworkers do meditation daily, will calm down their mind and create an environment for them to talk with each other in a polite manner.
The calmness can be brought in many ways, but meditation is the simple solution and also powerful.
The unemployment rate may overestimate the true extent of unemployment if:
1. many part-time employees would like to work fulltime, but are unable to get the additional work.
2. many people who claim to be unemployed actually work in the underground economy.
3. people falsely claim that they are actively seeking work in order to receive unemployment benefits.
4. either B) or C) occurs.
Answer: 4. If either B or C occurs
Explanation: Unemployment is the total number of people who are not engaged in active employment and are willing and capable of working,it is usually represented in percentage of the entire Population. Unemployment can be over estimated when people who claim to be unemployed are actually employed in the underground Economy(unreported employments from legal work) and sometime people claim to be actively seeking for employment because they want to keep enjoying unemployment benefits and Compensation.
When an organization needs employees with good basic skill sets but does not need the applicants in the recruitment pool to have a lot of work experience, the best external recruitment source would be ______.
educational institutions T/F
Answer:
Educational institutions
Explanation:
Educational institutions -
It refers to the place , where the children and people of various age groups tends to learn new things , is referred to as an educational institutions .
An educational institution are the schools , universities , colleges , etc.
These institutes provides a knowledgeable environment for the people to grab information in various fields .
Hence , from the given scenario of the question ,
The correct term is educational institutions .
Why are primary and secondary markets governed by regulating bodies?
Millions of investors trade in primary and secondary markets. To protect their interests and to help maintain market (valuation, transparency, profitability), these markets are regulated by government bodies.
Answer:
The answer is stated below:
Explanation:
Primary market is the market where the securities are established or created. In this market, the firms float or sell the new bonds or the stocks to the public for the first time. The example of this market is IPO (stands Initial Public offering).
Secondary market is the market where the investors could sell as well as buy the securities, they already own. It is the stock market, though the stocks are sold on the primary market, when they initially issued.
Therefore, both the market are owned as well governed by the regulating bodies.
Answer:
The answer is transparency.
Explanation:
Jerry, the recruitment manager at Randents Inc., reviews the performance of his team members on a monthly basis. Based on the results of his monthly reviews, he decides to conduct daily reviews to analyze the performance of members who do not achieve their monthly targets. In the context of management functions, Jerry's action exemplifies _____.
a. organizing
b. planning
c. leading
d. controlling
Answer:
d. controlling
Explanation:
controlling as a function of management is the act checkmating if the established target is achievable and if not, the reasons for the deviation.
A form of Controlling that Jerry is undergoing is Personnel control which is aim at making sure other people do what should be done.
• The basic control process are seen in Jerry action as:
(1) establishing standards:
monthly target to be achieved has being given to the personnel
(2) measuring performance against these standards.
Jerry reviews the performance of his team members on a monthly basis.
(3) correcting deviations from standards and plans.1
Based on the results of his monthly reviews, he decides to conduct daily reviews to analyze the performance of members who do not achieve their monthly targets.
Company A does not employ an independent stock transfer agent, but rather issues its own stock and maintains its stock records. When outstanding shares are transferred from one holder to another, the certificate of the selling shareholder should be:
Answer:
Canceled. It is usually perforated and attached to the certificate book.
Explanation:
An independent stock transfer agent is an agent which a corporation has assigned the responsibilities of keeping the financial records of all its investors and track the movements of their account balances. The agent can be a bank, trust company or other related financial institutions.
Basically the functions of a transfer agent are to maintain the records of the owners of securities like bonds and stocks of a company that are traded publicly as well as cancelling and issuing certificates, and dealing with other issues.
When a does not employ an independent stock transfer agent, but rather issues its own stock and maintains its stock records, all these functions have to performed by it, especially by the registrar of the company. As the issue of selling and transferring stocks is a specialized area of functions carried by agent with the specialized training which the registrar may not have, a simple method of cancelling the certificate of a selling shareholder is employed when outstanding shares are transferred from one holder to another.
Therefore, the certificate of a selling shareholder is employed when outstanding shares are transferred from one holder to another especially by perforating and the attach it to the certificate book.
I wish you the best.
An important managerial task in global marketing is learning to recognize the extent to which it is possible to extend marketing plans as well as the extent to which adaptation is desired. The way a company addresses this task is a reflection of the company's:
Answer:
global marketing strategy
Explanation:
A Global Marketing plan or strategy (GMS) refers to the strategy that includes nations from several different parts of the world and seeks to coordinate the marketing efforts of a business in those countries ' markets.
One must not equate a global marketing strategy with something like a global manufacturing approach. Subcontracting and overseas manufacturing affiliates may be used for or without a GMS for the finished products, common features of a global production approach.
The plaintiff in a product liability lawsuit has suffered $100,000 worth of damages from an automobile accident. A defect in manufacture of the plaintiff's vehicle is found to be 60 percent responsible for the accident, while the plaintiff's own negligence is 40 percent responsible. Under the doctrine of contributory negligence, how much would the defendantthe manufacturer of the vehiclehave to pay the plaintiff in damages?
Answer:
$60,000
Explanation:
Data provided in the question:
Damages suffered by Plaintiff from an automobile accident = $100,000
Responsibility of manufacturer in the accident = 60 percent
Responsibility of plaintiff in the accident = 40%
Now,
Under the doctrine of contributory negligence
The manufacturer will pay
= Damages suffered × Responsibility of manufacturer
= $100,000 × 60%
= $60,000
The law judge has just issued a decision based upon the findings in a formal hearing of a real estate salesperson for various ethical violations. What could the California Real Estate Commissioner do at this point in the proceeding?
A. Reject the proposed decision
B. Accept the proposed decision
C. Reduce the proposed penalty and make an official decision.
D. All of the above
The California Real Estate Commissioner will Reduce the proposed penalty and make an official decision.
Explanation:
The main purpose of California Bureau of Real Estate is to protect the Public in real estate and mortgage transactions which involves a agent
Max Weber believed in well-defined organization, called the Hierarchical Management Structure. Humanistic management did not disagree but recognized the power of_________.
Answer:
Informal structure
Explanation:
According to max weber, Infromal structure refers to a part of organization that does not necessarily a part of the formal hierarchical structure, but still co-exist with it and contribute the group's well-being.
For example,
Let's say that in the formal structure, Person A held the status as Person B's supervisor.
Outside the work hours, Person A and Person B actually good friends that like to hangout together. During the work hours, the friendship between person A and person B will influence the dynamic within their formal structure. Person A wouldn't treat person B as he treat other normal employees.
This type of social relationship could either be good or bad depending on how both of the act on it. This is what referred to as informal structure.
Max Weber championed the Hierarchical Management Structure based on well-defined roles and authority levels. The Humanistic Management theory acknowledges this structure, but shifts focus to cater to human needs and motivations arguing that a humane and fulfilling workplace leads to optimal productivity.
Explanation:The statement refers to theories of management and how they impact organizational structures. Max Weber, a significant figure in sociology, developed the concept of a Hierarchical Management Structure. This structure operates on clearly defined roles and a chain of command, where each level has authority over the one below it.
The Humanistic Management theory, meanwhile, did not disregard the value of a hierarchical structure, but introduced another focus — the emphasis on human needs and motivations.
The theory champions the idea that optimal productivity comes from respecting and catering to individual employee's needs and motivations, creating a workplace that isn't just efficient, but also humane and fulfilling.
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Accounts on the left side of the accounting equation (assets) are increased with a(n) to the account, whereas accounts on the right side of the accounting equation are increased with a(n):_______.
Answer:
Debit and credit
Explanation:
While recording the transaction, the accounts are debited or credited based on the nature of the transaction
As we know that
The debit section reports assets and expenses side while the credit section reports sales revenue, stockholder equity, and the liability side.
So if the asset side or expense side is increased than it would be displayed on the left-hand side while the revenue is increased than it would be reflected on the right-hand side.
In accounting, assets (left side of the equation) increase with a debit, while liabilities and equity (right side) increase with a credit. Accounts on the left side of the accounting equation (assets) are increased with a debit, whereas accounts on the right side of the accounting equation are increased with a credit.
Explanation:In accounting, the equation is 'Assets = Liabilities + Equity'. The accounts on the left side (assets) are increased with a 'debit' to the account. Conversely, the accounts on the right side (liabilities and equity) are increased with a 'credit' to the account. The terms 'credit' and 'debit' originate from Latin, credit meaning 'he/she/it believes' and debit meaning 'he/she/it owes'. This process is crucial to maintaining the balance in the accounting equation and ensuring accurate financial records.
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Operations management is applicable: Question 4 options: A) mostly to the service sector. B) mostly to the manufacturing sector. C) to services exclusively. D) to the manufacturing sector exclusively. E) to all firms, whether manufacturing or service.
Answer and Explanation:
E) to all firms, whether manufacturing or service.
The right response is E) to all businesses, whether manufacturing or service-oriented.
Concept of Operation ManagementPrinciples of operations management apply to both the industrial and service sectors. It entails the creation, planning, coordination, and management of processes that convert inputs into goods and services.
Operations management concepts and approaches can be used to increase efficiency, quality, and overall performance in a variety of companies, whether they manufacture tangible items or provide intangible services.
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On June 8, Williams Company issued an $90,000, 9%, 120-day note payable to Brown Industries. Assuming a 360-day year, what is the maturity value of the note? Round your answer to the nearest whole dollar.a. $5,712
b. $83,504
c. $87,312
d. $81,600e. None of the above
Answer:
e. None of the above
Explanation:
The computation of the maturity value is shown below:
= Issues amount + interest
where,
Issued amount = $90,000
And, interest equal to
= Issued amount × rate of interest × number of days ÷ (total number of days in a year)
= $90,000 × 9% × (120 days ÷ 360 days)
= $2,700
So, the maturity value would be
= $90,000 + $2,700
= $92,700
This is the answer but the same is not provided
Roberto files his tax return as married filing separately. He has not lived with his wife for over three years. In the current year, by order of the court, he paid her $500 per month for 12 months as separate maintenance. She will have to show $6,000 as alimony income and he will be able to deduct $6000 as an adjustment.
Answer:
False
Explanation:
Starting 2019, alimony payments and separate maintenance payments cannot be deducted by the spouse that makes the payment, and they should not be included under gross income by the spouse that receives the payment.
The Tax Cuts and Jobs Act changed several things including alimony payments, and this rule will remain at least until 2025.
Gloria, the controller of luna pizza, is purchasing several new delivery vehicles. gloria has numerous work responsibilities, so she has limited time to shop for cars. because of the time constraints, she cannot make an extensive search for the best alternative, so she looks for cars until she finds a model that is satisfactory. gloria is following the model. a. limited focus
b. limited scope
c. dilemma
d. rational
e. satisficing
Answer: (E) Satisficing
Explanation:
The satisficing is one of the type of satisfactory model that helps in understanding the various types circumstances that helps in creating the various types of decisions.
The satisficing is the process of performing the various types of strategies for achieving the desirable result and it basically explain the various types of behaviors of the decision process.
According to the given question, Gloria is using the satisficing model for the purpose of providing the satisfaction by choosing the best alternative.
Therefore, satisficing is the correct answer.
Answer:
E.
Explanation:
hope this helps :)
Suppose a report on CNN says that there is an impending recession coming in the United States. As a result, Bert's family, as well as many other like minded families and individuals, reduce their spending and instead fill up their piggy banks for a potential rainy day.
As a result of this behavior:
a) Nothing in the economy changes as a result of people choosing to save up some money.
b) The economy is actually harmed as there is a sharp decease in consumer spending.
c) The economy is stimulated as individuals begin to save up money and therefore have more money to spend on goods.
In macroeconomics, this result is known as:
a) self-regulation
b) a business cycle
c) normal behavior
d) piggy bank fattening
e) the paradox of thrift
Answer:
1- B ( The economy is harmed as there is a sharp decrease in consumer spending.
2- The paradox of thrift.
Explanation:
When people go for saving from consuming during recession, it affects the overall economy. Although this is surely an individual choice but it does, because less consumer spending means higher interest rates and low demands harms the economic growth.The paradox of shift, a term coined by John Maynard Keynes an renowned economist which refers to the behavior of people when they suddenly starts saving during a recession it happens when one worries too much. And in the end it hits the demand harder.A seller has agreed to sell his home for $215,300. The buyer will make a $27,000 down payment and assume an $85,000 mortgage. What is the transfer tax if the state tax rate is $0.12 for each $100 paid in cash at the time of the transfer?
Answer:
transfer tax = $156.36
Explanation:
given data
sell home = $215,300
down payment = $27,000
mortgage = $85,000
state tax rate = $0.12 for each $100 paid
solution
we get here amount that subject to transfer tax is
amount subject to transfer tax = $215,300 - $85,000
amount subject to transfer tax = $130,300
and
now we get taxable parts
taxable parts = [tex]\frac{sale\ price}{taxable\ part}[/tex]
taxable parts = [tex]\frac{130300}{100}[/tex]
taxable parts = $1,303
so transfer tax is
transfer tax = $1,303 × $0.12
transfer tax = $156.36
Negacho, a food and beverage company, introduced a new flavor of potato chips called South Indian Chillis. It received a positive response from consumers, which prompted Brex Mex, another food company, to introduce its own Szechuan flavored chips. In this scenario, which of the following is most likely to have influenced Brex Mex to produce a product similar to Negacho's?A. Establishment of new industriesB. Access to factors of productionC. Reduced riskD. Inflow of innovation
Answer:
Inflow of innovation
Explanation:
Negacho introduced its new flavoured chips and received positive response. This shows that the market is open to adopting new innovative products
This is what prompted Brex Mex to introduce their own flavored potato chips.
Basically the market is favorable to introduction of new ideas and products.
The most likely factor that influenced Brex Mex to produce a product similar to Negacho's South Indian Chillis potato chips is C. Reduced risk.
When a new product is introduced and receives a positive response from the market, it reduces uncertainty and risk for other companies considering entering the same market segment. Seeing the success of Negacho's new flavor, Brex Mex likely perceived a decreased risk in launching a similar product. Introducing their Szechuan flavored chips is a direct response to the market validation established by Negacho's success. Companies often follow trends and capitalize on established demand to ensure a safer entry into the market, avoiding the costs and risks of pioneering a new product concept. This bandwagon effect is common in competitive markets, where businesses continuously observe competitors and market trends to inform their product development and marketing strategies. Therefore, rather than inflow of innovation or access to factors of production, it is the aspect of reduced risk associated with established consumer acceptance that likely motivated Brex Mex to act.
It is most important that a project manager:
A) focuses on meeting daily challenges head on.
B) focuses on meetings.
C) remembers the overall picture, or goals, that define the project.
D) operates on the boundary between strategy and tactics.
Answer:
D) operates on the boundary between strategy and tactics is the correct answer.
Explanation:
The project manager has the responsibility of designing, planning acquisition, and accomplishment of a project. The project manager's role is to interact with the team members and stakeholders and concentrate on solving problems during the project work.To be successful project managers all the project managers require to sharpen their skills in areas of leadership, strategic and marketing management.Duncan Solutions, a growing electronics firm, has recently installed an automatic service to respond to customer queries that can be resolved with minimal troubleshooting information. This system, which uses interactive voice response, has enabled them to significantly reduce the number of customer support employees they require. This reduced manpower requirement depicts the role of _____ as an external factor that impacts forecasting in the company.
Answer:
Duncan Solutions, a growing electronics firm, has recently installed an automatic service to respond to customer queries that can be resolved with minimal troubleshooting information. This system, which uses interactive voice response, has enabled them to significantly reduce the number of customer support employees they require. This reduced manpower requirement depicts the role of technology as an external factor that impacts forecasting in the company.
Explanation:
In recent times, there are so many giant strides that has been recorded in technology which has made life easier for everyone and also helps to reduce human power. From the analogy above, it is understood that the technology developed has helped to reduce the number of people that would have been employed to respond to customer also it has increase efficiency which is part of the advantages of technology as it aids efficiency and efficacy.
Primary markets are the financial markets where _____.
a. already issued instruments with original maturities equal to one year or less are traded outstanding loans are traded
b. options and futures are issued by corporations
c. where previously issued financial assets are traded among
d. investors corporations and governments raise funds by issuing new securities
Answer:
d. investors corporations and governments raise funds by issuing new securities
Explanation:
The primary market is the market where for the first time the new securities such as shares, stocks, etc. are being sold to the public at large or we can refer initial public offer. The initial public offer is an illustration of the primary market.
In the other hand, the secondary market is that market in which the shares are bought or sold through the investors after selling to the general public. Like - New York Stock Exchange (NYSE), etc.
A researcher at a large company has collected data on the beginning salary and current salary of 48 randomly selected employees.
The least‑squares regression equation for predicting their current salary from their beginning salary is [tex]\hat y[/tex] = - 2532.7 + 2.12 x.
Mrs. Kathy Jones started working for the company earning $19,000. She currently earns $40,000. What is the residual for Ms. Jones?
Answer:
$2252.7
Explanation:
Residual is calculated by taking the difference of observed and predicted value.
The regression equation is
y= - 2532.7 + 2.12 x.
Where, y is the current salary and x is the beginning salary.
Mrs. Kathy Jones beginning salary= $19,000.
Mrs. Kathy Jones observed current salary= $40,000.
Residual for Mrs. Kathy Jones=Mrs. Kathy Jones observed current salary-Mrs. Kathy Jones predicted current salary.
Mrs. Kathy Jones predicted current salary
y^= - 2532.7 + 2.12 (19000)
y^= - 2532.7 + 40280
y^=37747.3
Mrs. Kathy Jones predicted current salary =$37,747.3
Residual for Mrs. Kathy Jones= $40,000-$37,747.3
Residual for Mrs. Kathy Jones=$2252.7
The residual for Mrs. Kathy Jones is $2252.7.
The residual for Mrs. Jones is the difference between her actual current salary and the predicted salary from the regression equation, which is $1852.7.
Explanation:The residual in a regression analysis is the difference between the observed value of the dependent variable (current salary) and its predicted value from the regression equation. In this context, 'x' represents the starting salary, while 2.12x - 2532.7 estimates the current salary.
To calculate the residual for Mrs. Jones, first find the predicted salary using the regression equation, by substituting $19,000 (her beginning salary) into the equation. As such:
predicted salary = - 2532.7 + 2.12 * 19000 = $38147.3
Then, subtract this predicted salary from her actual current salary ($40,000). The calculation is as follows:
residual = actual salary - predicted salary = 40000 - 38147.3 = $1852.7
Therefore, the residual for Mrs. Jones is $1852.7. This means that the actual salary is $1852.7 higher than what the regression equation predicted, given her starting salary.
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