0
Still curious? Ask our experts.
Chat with our AI personalities
Blake
Professor
ViviAdd your answer:
Earn +20 pts
It is best to isolate the material quantity variance when the materials are purchased?
false- it is best to isolate them once you know how much of the material has been used. If you don't know how much is used, you can't get a variance to evaluate efficiency of how materials were used.
Which tool would be best for measuring the capacity of a pitcher of lemonade?
A measuring beaker.
Why not simply use the mean value of the regressand as its best value?
Variance" is a mesaure of the dispersion of the probability distribution of a random variable. Consider two random variables with the same mean (same aver-age value). If one of them has a distribution with greater variance, then, roughly speaking, the probability that the variable will take on a value far from the mean is greater.
In the presence of heteroscedasticity OLS estimators are biased as well as inefficient?
They are still unbiased however they are inefficient since the variances are no longer constant. They are no longer the "best" estimators as they do not have minimum variance
Which one of these best describes exceeding ones job performance?
Taking on extra tasks or volunteering to work extra hours.
