QUESTION 30

1. In linear regression, what does it mean when the R² value is close to 1?

		The data points are very close to the line, so forecasts made with the regression formula will be fairly accurate.
		The data points are widely scattered, so forecasts made with the regression formula will not be accurate
		There is no such thing as an R2 value.
		The slope of the line is close to 1.

QUESTION 32

1. A break even analysis using the Cost Volume Profit (CVP) model includes all of the following assumptions EXCEPT:

		Selling price is constant per unit
		Variable cost is constant per unit
		Fixed cost is constant
		Volume is constant

3 points

QUESTION 33

1. A person on salary with no provision for overtime pay would be categorized as which type of cost?

		Variable cost
		Fixed cost
		Mixed cost
		Stepped cost