Plz solve this 10-18 question as soon as possible

1:23 a coursehero.com Clair College > Clair College - ACCOUNTING ACC444 > DATA3736_08_SE_C10.pdf 10 DATA3736_08_SE_C10 5 more documents to earn a free unlock. Helpful Unhelpful 44 of 60 - + 10-17 Distinguish between internal failure costs and external failure costs. Exercises 10-18 Terminology. A number of terms are listed below: account analysis method conference method correlation economic plausibility explanatory power goodness of fit high-low method industrial engineering method linear cost function ordinary least squares (OLS) simple linear regression outcome variable predictor variable method t-Stat P-value time series Required Select the terms from the above list to complete the following sentences. A management team can use several methods of quantitative analysis to predict the value of a single over- head cost pool in a traditional costing system. The methods are_ , and There are different criteria to consider when choosing a method of analysis: affordability, understandabil- ity, data availability and quality, , and . The relationship between cost of unequally shared resources used in production and their benefit to distinct types of cost objects must be economically plau- sible. The change in quantity of resources used must be a good measure of change in benefit. The relation- ship must be a if OLS simple linear regression analysis is to be used. Ideally, the OLS will be based on ASSIGNMENT MATERIAL . 421 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 appro- priate for all situations. 10-19 Estimating a cost function. The controller of the ljiri Company wants you to estimate a cost LO 1 function from the following two observations in a general ledger account called Maintenance: tutors were helpful last time, right? Ask another X stion! Ask Expert Tutors