I would like help answering #97 here

AA coursehero.com C X 8 Thanks for rating! Rate 3 more documents to earn a free unlock. 9 + Page: 19 of 55 - | + Automatic Zoom 96. Based in Minneapolis, Minnesota, the Hubert Memorial Foundation has $300 million in investments and contributes approximately 80 percent of the average annual return of $25 million to worthy causes. Individuals and groups requesting grants of $100,000 or more must make an in-person presentation of their request. These presentations generally involve three to five individuals and take an average of two hours each. The Executive Director of the Hubert Foundation is concerned with the cost of resources used to schedule and accommodate the 500 to 600 group presentations each year. She has asked you for suggestions about what kind of cost data to gather, and ways to classify the data to help her understand cause/effect relationships between costs and results. Required: Write a brief memo to the Executive Director giving her some basic information on cost classification and behavior. 97. Green Mountain College is a 5,000 student state-supported, four-year institution located in the mid-South. Physical facilities can accommodate another 1,000 students, and the college administration is attempting to estimate the added yearly cost of educating the additional students. The Business Manager of Green Mountain College has asked you to evaluate two linear regressions given below, and recommend the better one to her. Regression 1 SC - 4,303 + 143 50 CH Regression 2 Coefficient of determination, 0.594 SC - 3.800 + 441 25 IS Standard error of the estimate, 117 Coefficient of determination, 0.707 Standard error of estimate, 133 (average cost is $6.025) (average cost is $6.025) Where: SC = Student cost CH = Cost per credit hour IS = Incremental cost per student Required: (1) Explain your choice of cost function (regression 1 or regression 2) for predicting added student educational costs per year. (2) What information value does the standard error of estimate (SE) have in this situation? 98. US Best Corporation produces and distributes products nationwide, and competes on cost leadership. In order to maintain its current industry cost and price leadership role, US Best uses cost-based pricing techniques. One of the factors considered in determining future prices is the Consumer Price Index (CPI). Considerable discussion over the past year on the national level has strongly suggested the monthly CPI inflation adjustment figure is skewed upward by as much as one percentage point. Required: What implication does this purported inflation exaggeration in the Consumer Price Index have on US Best Corporation's cost- based pricing changes in the near future? Report Download Add to Library TITLE 8 SCHOOL A+ Ask Expert Tutors You can ask 3 bonus questions r. Saturr Jrios University