In the simple linear regression model, the slope represents the:
a. value of y when x = 0 c. value of x when y = 0.
b. average change in y per unit change in x. d. average change in x per unit change in y.
B
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The Lumber Division of Paul Bunyon Homes Inc. produces and sells lumber that can be sold to outside customers or within the company to the Construction Division. The following data have been gathered for the coming period:
Lumber Division: Capacity 200,000 board feet Price per board foot $2.50 Variable production cost per bd. ft. $1.25 Variable selling cost per bd. ft. $0.50 Construction Division: Board feet needed 60,000 Outside price paid per bd. ft. $2.00 If the Lumber Division sells to the Construction Division, $0.35 per board foot can be saved in shipping costs. If current outside sales are 130,000 board feet, what is the minimum transfer price that the Lumber Division could accept? a) $1.40 b) $1.75 c) $2.50 d) $1.25
Members of the federal judiciary are
a. elected to office for life by the senates of the states where the courts are located. b. appointed by the president and confirmed by majority vote of the U.S. Senate. c. designated in a binding recommendation by the senior senator of the state where the court is located. d. required to retire at age 70.