Question

A number of terms are listed below:
REQUIRED
Select the terms from the above list to complete the following sentences.
There are several methods of quantitative analysis that a management team can use to predict the value of a single overhead cost pool in a traditional costing system. The methods are:
___________, (___), and ___________. There are different criteria to consider when choosing a method of analysis which are: affordability, under- stand ability, data availability and quality, ___________, and ___________.
The change in quantity of resources used must be a good measure of change in benefit. The relationship must be a ___________if OLS simple linear regression analysis is to be used. Ideally, the OLS will be based on at least 25 data points observed and reported in the past as a ___________. If insufficient data are available then the other methods of analysis will help the management team predict the value of the indirect cost pool. When true, the orderly change in the quantity of resource used will explain a large proportion of the change in the indirect cost pool. This is called ___________. A high explanatory power indicates a high between the change in the measure of benefit or the variable, X, and the change in the predicted indirect cost pool or , y. You can observe this in the ___________between the predicted (X, y) line and the actual data points (X, Y) from which the prediction was made. The measure of goodness of fit is called ___________. Other important statistics that assess the reliability of the predicted regression line are the ___________ and___________. While the OLS is a very rigorous analysis and can predict future values at a specific ___________, it is not appropriate for all situations.


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  • CreatedJuly 31, 2015
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