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Cost Management: A Strategic Emphasis 5th Edition by David Stout, Edward Blocher, Gary Cokins
Edition 5ISBN: 0073526940Cost Management: A Strategic Emphasis 5th Edition by David Stout, Edward Blocher, Gary Cokins
Edition 5ISBN: 0073526940Johnson Plastics Inc. produces cases for CDs. The accounting manager has calculated a regression to determine future production costs. The regression estimate is $5,000 with an R-squared of .9, a t-value of 2.5, and a standard error of $400. Within what interval would she be reasonably (67 percent) confident that the actual values will fall?
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Standard error is a measure of the statistical accuracy of an estimates which is equal to the standard deviation of the large distribution.it is a statistical term which measure the accuracy. Standard error (SE) is used to determine the range around the regression estimates under which an unknown value will expected to fall.
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