This question is based on analyzing the relationship of total factory overhead (Y)to direct labor hours (X).The following relationship was found: Y = $1,000 + $2X.This equation was probably found through the use of which of the following mathematical techniques?
A)Linear programming.
B)Multiple regression analysis.
C)Simple regression analysis.
D)Excel tools.
E)Nonlinear regression.

Question

Quizplus · Accepted Answer

The equation Y = $1,000 + $2X represents a simple linear regression, where Y is the dependent variable (total factory overhead) and X is the independent variable (direct labor hours). Simple regression analysis is used to analyze the relationship between two continuous variables, where one variable is the predictor or independent variable, and the other variable is the response or dependent variable. Therefore, the correct mathematical technique used to find this equation is simple regression analysis.

This Question Is Based on Analyzing the Relationship of Total