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Time Remaining: 00:37:35 Submit Quiz This Question: 10 pts 3 of 4 (2 complete) This Quiz: 60 pts possible A number of terms are provided i (Click the icon to view the terms.) Use the terms from the list to complete the following sentences. 1) There are several methods of quantitative analysis that a management team can use to predict the value of a single overhead cost pool in a traditional costing system. The methods are: 4 and 2) The criteria to consider when choosing a method of analysis are: affordability, understandability, data availability and quality, and 4) The relationship between cost of unequally shared resources used in production and their benefit to distinct types of cost objects must be economically plausible. The change in quantity of resources used must be a good measure of change in benefit. The relationship must be a if OLS simple linear regression analysis is to be used. 5) Ideally, the OLS will be based on at least 25 data points observed and reported in the past as a If insufficient data are available, then the other methods of analysis will help the management team predict the value of the indirect cost pool. - X 6) When true, the orderly change in the quantity of resource used will explain a large proportion of the ch Terms 7) A high explanatory power indicates a high between the change in the measure account analysis method conference method correlation 8) You can observe this in the between the predicted (X, Y) line and the actual da economic plausibility explanatory power goodness of fit high-low method industrial engineering method linear cost 9) Other important statistics that assess the reliability of the predicted regression line are the function ordinary least squares (OLS) simple linear regression method outcome variable in1 Whils the oradint futura unloons at a annifir predictor variable confidence level 2 Click to select your answer(s). t-Stat P-value time series Print Done 1:12 PM Type here to search 1 ENG 2021-01-26 ASUS VivoBook ESC Home/Debu f10 End/Fi $719 p/P .prec Pet Sc/Imprec Pel/Sup Echopp. @ 3 @ 1/4 1/2 3/ W E R P Home /Debut S D H K