Evaluation criteria of regression equation must be considered as ____________?
Correct answer: B. all of above
- A. goodness of fit
- B. all of above
- C. significance of independent variable
- D. economic plausibility
Explanation
A regression equation is evaluated for goodness of fit, economic plausibility and the statistical significance of its independent variable. Since all three are relevant criteria, the combined choice is required.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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