A cost accountant is developing a regression model to predict the total cost of producing a batch of printed circuit boards as a linear function of batch size (the number of boards produced in one lot or batch), production plant (Kingsland and Yorktown), and production shift (day and evening). The response variable in this model is .....

MULTIPLE REGRESSION

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A cost accountant is developing a regression model to predict the total cost of producing a batch of printed circuit boards as a linear function of batch size (the number of boards produced in one lot or batch), production plant (Kingsland and Yorktown), and production shift (day and evening). The response variable in this model is ____

A	batch size
B	production shift
C	production plant
D	total cost

Explanation:

Detailed explanation-1: -The process through which we construct mathematical function that can be used to predict or determine one variable by another variable is called REGRESSION.

Detailed explanation-2: -Linear regression is a statistical practice of calculating a straight line that specifies a mathematical relationship between two variables.

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RESEARCH METHODOLOGY

STATISTICAL TECHNIQUES AND TOOLS

MULTIPLE REGRESSION