In Regression Analysis, the testing of assumptions if these are true or not is classified as ___________?
Correct answer: D. specification analysis
- A. weighted analysis
- B. average analysis
- C. significance analysis
- D. specification analysis
Explanation
Specification analysis tests whether the assumptions and form used in a regression model are appropriate. It differs from significance analysis, which tests the statistical importance of estimated coefficients.
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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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