Mutual fund fees are disclosed in the fund prospectus. This statement is true.
The prospectus is a legally required document that provides detailed information about a mutual fund, including its investment objectives, risks, performance history, and fees. It is designed to help investors make informed decisions about whether to invest in a particular mutual fund.
When it comes to fees, the prospectus will typically disclose various types of charges associated with investing in the fund. These may include management fees, which compensate the fund manager for overseeing the portfolio, as well as administrative fees for operational expenses.
The prospectus will also disclose any sales charges or loads that investors may incur when buying or selling mutual fund shares. This information is important because it affects the total cost of investing in the fund and can impact investment returns.
Additionally, the prospectus may provide details about other fees, such as redemption fees or account maintenance fees. These fees vary by fund and can have a significant impact on the overall cost of investing.
It is crucial for investors to review the fund prospectus carefully and understand the fees associated with a mutual fund before making any investment decisions. By doing so, investors can make informed choices and select funds that align with their investment goals and risk tolerance.
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Question 2. Small Town Sweets—audit planning analytics (4%)
Small Town Sweets is based in Molong, NSW, and produces a range of high-quality confectionery for the East Coast market. Small Town Sweets operates in a low-margin environment, which typically means that large volumes are required to cover overhead costs and generate profits. It also means that overheads need to be kept under control to ensure that a net profit is generated from its operations. Debt is also kept to a minimum to ensure that interest costs are low and that there is sufficient margin to protect solvency during downturns.
The company did not reach industry profitability benchmarks in the previous year and budgeted to do better in the current year. It thought that it could do so by keeping its costs down in relation to sales while allowing its gross margin to drop, evidently planning to generate a larger volume of sales. The company also planned to better manage its working capital by reducing inventory and accounts receivable levels, indicating that it expected to produce a healthy cash flow to enable it to do so. As part of the planning process MCA has produced the following analytical information:
Ratio Actual Budgeted Prior Year Industry
Return on equity % 12.9 16.6 14.8 15.5
Return on total assets % 10.7 14.2 13.1 14.5
Gross margin % 8.5 9.0 9.5 9.0
Marketing expense/sales % 2.6 1.8 2.0 2.2
Admin expenses/sales % 1.6 1.6 1.8 2.0
Interest coverage ratio 5.4 8.1 6.4 6.0
Days in inventory 33.1 30.4 31.1 30.0
Days in accounts receivable 50.0 48.0 49.7 45.0
Current ratio 1.3 1.2 1.2 1.5
Quick asset ratio 0.81 0.77 0.77 1.0
Debt to equity ratio 0.51 0.33 0.41 0.40
Required
With reference to ASA 315 and the information above, identify and justify:
the three ratios that would be of most interest in the planning of the audit.
the account balance that is most at risk for each ratio identified in 1.
the assertion most at risk for each account balance identified in 2.
Answer this question using the following headings:
1. Ratio
2. Account balance
3. Assertion
Ratio:
a) Return on equity %
b) Days in inventory
c) Days in accounts receivable
Account balance:
a) Net income
b) Inventory
c) Accounts receivable
Assertion:
a) Existence
b) Valuation
c) Completeness
Justification:
Ratio:
a) Return on equity %: Return on equity is a key profitability ratio that measures the company's ability to generate profits for shareholders. It is of interest to auditors as it provides insight into the effectiveness of the company's management team in generating profits. A lower than expected return on equity could indicate mismanagement or fraudulent activity.
b) Days in inventory: Days in inventory is a ratio that measures the average number of days it takes for inventory to be sold. It is of interest to auditors as it provides insight into the efficiency of the company's inventory management system. A high number of days in inventory could indicate that inventory is not being managed efficiently, leading to potential overstatement of inventory and understatement of cost of sales.
c) Days in accounts receivable: Days in accounts receivable is a ratio that measures the average number of days it takes for customers to pay their bills. It is of interest to auditors as it provides insight into the efficiency of the company's accounts receivable management system. A high number of days in accounts receivable could indicate that the company is not collecting receivables in a timely manner, leading to potential overstatement of accounts receivable and understatement of bad debts.
Account balance:
a) Net income: Net income is the primary measure of a company's profitability. It is at risk if the return on equity ratio is lower than expected, as it may indicate mismanagement or fraudulent activity.
b) Inventory: Inventory is a major component of cost of sales and is at risk if the days in inventory ratio is higher than expected, as it may indicate potential overstatement of inventory and understatement of cost of sales.
c) Accounts receivable: Accounts receivable represent amounts owed to the company by customers. They are at risk if the days in accounts receivable ratio is higher than expected, as it may indicate potential overstatement of accounts receivable and understatement of bad debts.
Assertion:
a) Existence: The existence assertion is at risk for net income if the return on equity ratio is lower than expected, as it may indicate mismanagement or fraudulent activity.
b) Valuation: The valuation assertion is at risk for inventory if the days in inventory ratio is higher than expected, as it may indicate potential overstatement of inventory and understatement of cost of sales.
c) Completeness: The completeness assertion is at risk for accounts receivable if the days in accounts receivable ratio is higher than expected, as it may indicate potential overstatement of accounts receivable and understatement of bad debts.
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Which Important personal quality does Jane seem to possess?
Jane is friendly and kind toward her coworkers. She makes interesting conversation with them during lunch. Her attitude helps to maintain a
harmonious atmosphere at work. Jane thus possesses an important personal quality known as
Answer:
kindness
Explanation: sorry im guessing by what the paragraph tells me..
Answer:
courteousness
Explanation:
These are all attributes of a courteous individual.
If a country has an absolute advantage in every good, then?
Trade can still be advantageous to both parties even when one country has a definite edge in all products. Absolute This is due to the fact that trading profits are obtained by specializing in one's comparative advantage.
Absolute advantage merely contrasts a worker's productivity across nations. How many inputs are required to create shoes in by this. A slightly different version of this question is posed by comparative advantage. It asks instead, absolute According to the comparative advantage concept, a representative will produce more of and consume less of a good for which they have a comparative advantage under free trade. Comparative advantage is the economic reality that shows how the amount of work people or nations do as a result of trade has increased over time.
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nswer the following questions using the information below: axle and wheel manufacturing currently produces 1,000 axles per month. the following per unit data apply for sales to regular customers: direct materials $30 direct manufacturing labor 5 variable manufacturing overhead 10 fixed manufacturing overhead 40 total manufacturing costs $85 the plant has capacity for 3,000 axles and is considering expanding production to 3,000 axles. what is the total cost of producing 3,000 axles?
The total cost of manufacturing 3,000 axles.
The total cost of producing 3,000 axles is $255,000. This can be calculated by multiplying the total manufacturing cost per unit ($85) by the number of units (3,000). Thus, the equation is 3,000 x $85 = $255,000.
The cost breakdown of each unit is as follows: Direct materials ($30), direct manufacturing labor ($5), variable manufacturing overhead ($10), and fixed manufacturing overhead ($40).
Given that the plant has the capacity to produce 3,000 axles, expanding production would be beneficial as the total cost of production would be the same, but the profit margin would increase with the additional units sold.
The total cost is broken down as follows:
$90,000 ($30 x 3,000) for direct materials
$15k in direct manufacturing labour ($5 x 3,000)
$30,000. Variable manufacturing overhead ($10 multiplied by 3,000)
($40 x 3,000) Fixed manufacturing overhead: $120,000
The $255,000 ($85 x 3,000) is the total cost of manufacturing 3,000 axles.
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lars deposited $50 into
Answer:Lars deposited $50 into a savings account for which interest is compounded quarterly. According to the rule of 72, what interest rate will cause his money to double in approximately 29 years? A 0.6% B 1.7%
Explanation:idek this is what i could find ab this question hope its right!
Answer:
0.6
Explanation:
PLEASE HELP ASAP!!! I'll MARK BRAINLIEST!! FOR CAREER!!
1. Nara learned about prototyping, feedback, and testing as part of her biomedical engineer career. She is considering changing careers. Could she apply these concepts in a different career? Give one example of how Nara could use prototyping, feedback, and testing in a career.
2. Imagine you’re a human resources manager interviewing applicants for two jobs: IT security specialist and web developer. Could you hire one person to do both jobs? Why or why not? Describe the skills and personal qualities that candidates for each job should have.
3. If you work as a human resources manager, you’ll need a well-developed sense of empathy in order to succeed. How could you explain that part of your job to a new employee? Would empathy be important if you worked in a different career? Explain.
4. General contractors must make decisions based on ethics and safety. What other careers require people to follow safety regulations? Do the regulations protect the public, workers, companies, or a combination of these? How do the regulations compare to the safety guidelines you might follow in your everyday life, such as seat belt rules or lab rules in science class?
5. Helena is considering a new, full-time job at a construction company that’s part of a union. She’d make $20 per hour and earn a salary of about $40,000 per year. The union would charge her two and a half times her hourly wage. So her monthly union dues would be $50. What would her union dues be per year? Would it be worth it? Should she take the job? Explain why or why not.
Yes, Nara may use the ideas of testing, feedback, and prototyping in a different line of work.
What is prototyping?
Design teams experiment with, bring to life, and iterate on ideas through the process of prototyping, which can involve everything from digital designs to paper ideas. A prototype is fundamentally an early rendition of a design that enables users to engage with it or envision it before a finished product is created.
For instance, if Nara decided to pursue a career in software development, she might utilize prototyping to produce early iterations of the program and collect user input to enhance it. The program could then be tested to make sure it functions as intended and any problems could be fixed.
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Name the Airline that Officially Flew springboks
Answer: FlySafair
Explanation:
FlySafair is a domestic airline in South Africa that is the official sponsor of the South African national rugby team, the Springboks.
FlySafair officially flies the Springboks to locations within and around South Africa and they have been credited with being one of the most punctual airlines there is and have drawn massive praise from Jurie Roux who is the CEO of SA Rugby.
Which part of the purchasing process includes the sum of money due in
payment for the goods?
A. Invoice
B. Payment
C. Requisition
D. Shipping
ANSWER: A. Invoice
Explanation:
it is a document given by the supplier,which contains
information on the quality,PRICE of goods sold
also date
well this is what ik,so hope it helps ig
Answer:
in voice
Explanation:
How important is money
Answer:
very important
Explanation:
money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.
On January 2, 2015, Banno Corporation issued $1,500,000 of 10% bonds at 97 due December 31, 2024. Interest on the bonds is payable annually each December 31. The discount on the bonds is also being amortized on a straight-line basis over the 10 years. (Straight-line is not materially different in effect from the preferable "interest method.")The bonds are callable at 101 (i.e., at 101% of face amount), and on January 2, 2020, Banno called $900,000 face amount of the bonds and redeemed them.Ignoring income taxes, compute the amount of loss, if any, to be recognized by Banno as a result of retiring the $900,000 of bonds in 2020. (Round answer to 0 decimal places, e.g. 38,548.)Loss on redemption
Answer:
$22,500
Explanation:
Computation of the amount of loss
Loss on redemption of bonds=[($900,000*101%)+(100%-97%*$900,000/10 years*5years)]-$900,000
Loss on redemption of bonds=[($909,000)+(3%*$900,000/10 years*5 years)]-$900,000
Loss on redemption of bonds=($909,000+$13,500)-$900,000
Loss on redemption of bonds=$922,500-$900,000
Loss on redemption of bonds=$22,500
Note that 1/2/2016 - 1/2/2020 will give us 5 years which means that there are 5 years left making the balance in the discount Account to be $13,500.
Therefore the amount of loss will be $22,500
CAN SOMEONE PLS HELP ME!!
Aspirin is one of the most widely used drugs in the world. Although many companies make and sell aspirin, all aspirin is pretty much the same. Because aspirin is a drug, the government has some control over companies that make it.
Is this an example of perfect competition? Why or why not?
Answer:
Yes
Explanation:
Because multiple companies are fighting over who will buy theirs even thought there all the same plz mark me Bg brain
It is an example of perfect competition because the many companies are the involved they make and sell aspirin.
What is perfect competition?The competition of the market type is the perfect competition. Because there is less competition in the market, consumers have more options for products from various brands. The result is ultimately more competitive pricing and brings a cheaper product to the consumer.
The market is the based of the consumer demand and preferences. The perfect competition was the based of the so many brands are to exist in the market. The price are the increased the consumer are the shift to another goods and services. The example of the aspirin is drug in the world are the sell and make aspirin, the companies are the fighting to the sale in the market.
As a result, the example of the perfect competition.
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What is 2+2-5x(87x-32)=
Answer:
-435x^2+160x+4
Explanation:
put the 2 as a square root
In some ways, a debit card is more vulnerable to theft than cash or a checkbook. Explain how this is so. << Read Less
A debit card is more vulnerable because its contained value are sometimes high.
A debit card is a card issue to a bank account owner to enable easy access to money.
This card works by deducting money directly from the owners checking account with a bank.A debit card can also be termed a money because its contains value and can be used pay for transaction at any point of sales.The debit card are more vulnerable because the value therein may be large, so, fraudsters target stealing the card rather than stealing cash or checkbook.Learn more about Debit Card here
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The personal needs, the culture, and the family of an individual influence his or her ethical choices.
Answer:
True
Explanation:
Ethical choices of an individua are an outcome of the social, cultural and regional exposure of the individual. Some part of the behavior and thoughts of an individual are sharped according of the ethnicity and culture. The values are enhanced and they are formed as a result of the choices made by the individual and the community. The result of the behavior, attitudes, choices and preferences of the individua are the outcome of the values formed by the person. Ethical choices are made upon the level of ethnic intensity.
What Problem do Trump and Biden want to solve?
Answer: trump and Biden want to solve many problems
Explanation: they ways they do it are different
why is free car insurance an incentive for college graduates and first time buyers?
Answer:
Free car insurance is an incentive for college graduates and first time buyers sheerly because of the price. College graduates and the like usually do not have the wealth to spend too much on car insurance.
Explanation:
In 1-3 sentences, describe the saving-borrowing-investing cycle.
Answer:
see below
Explanation:
Saving involves putting aside a portion of one's income for future consumption. Financial institutions provide savings accounts where the public can save money. When many people save, the banks find themselves holding a lot of money in their custody. Since the banks have a need to make profits, they loan out these savings to individuals and businesses for expansion and consumption. When businesses borrow to expand, they are investing; when individuals borrow to start a business, it's an investment.
Savings in financial institutions provide funds for businesses and households to borrow and invest. The proceeds of investments are deposited in banks, loaned out again, and the cycle continues.
how are stakeholder relationships in a global context different from those in a domestic context
Stakeholder relationships in a global context are different from those in a domestic context in a number of ways. Here are some of the key differences:
Cultural differences: Different cultures have different values and expectations, which can impact stakeholder relationships. For example, in some cultures, it is important to build personal relationships with stakeholders, while in other cultures, it is more important to focus on building business relationships.
Legal differences: Different countries have different laws and regulations, which can impact stakeholder relationships. For example, in some countries, it is important to have a written contract with stakeholders, while in other countries, verbal agreements are sufficient.
Language barriers: Language barriers can make it difficult to communicate with stakeholders, which can impact stakeholder relationships. For example, if a company is doing business in a country where the majority of the population does not speak the company's language, the company will need to find ways to communicate with stakeholders in a way that they can understand.
Geographic distance: Geographic distance can make it difficult to build relationships with stakeholders, which can impact stakeholder relationships. For example, if a company is doing business in a country that is located on the other side of the world, it will be more difficult for the company to build personal relationships with stakeholders.
Despite these challenges, there are a number of things that companies can do to build strong stakeholder relationships in a global context. Here are some tips:
Do your research: Before you do business in a new country, it is important to do your research and understand the culture, laws, and regulations. This will help you to avoid making any mistakes that could damage your relationships with stakeholders.
Build relationships: It is important to build personal relationships with stakeholders, even if it is difficult due to geographic distance or cultural differences. This can be done by visiting stakeholders in person, communicating with them regularly, and showing that you are interested in their needs.
Be transparent: Stakeholders need to be able to trust you, so it is important to be transparent about your business practices and goals. This will help to build trust and confidence, which are essential for strong stakeholder relationships.
Be responsive: Stakeholders need to know that you are responsive to their needs and concerns. This means being quick to respond to their requests and taking their feedback seriously.
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can somebody make a summary of a article about what it takes to give good customer service??? PLEASE i only need like 4-5 sentances
Answer:
Customer service sets great businesses apart from the rest. Customers are the reason that businesses exist. Keeping those customers happy means being responsive to their needs and wants. A good customer service experience can turn a one-time customer into a lifelong repeat customer. People like to share their good experiences. Excellent customer service can turn into positive word of mouth.
In an answer of at least two well-developed paragraphs, define the terms shortage and surplus and explain how each impact the prices of goods in the marketplace.
I will make you brainliest and you'll get 25 points
Thank youuu. I know its a lot but I really need help.
calculate the percentage by mass of all the components element in sodium trioxonitrate(v)
Sodium =27.05
Nitrogen=16.47
Oxygen=56.46
what are expenses from those:
1. premises
2. Machinery
3. Rent received
4. Advertising
5. Motor Vehicle
6: Motor expense
in your own words, why do you think it is important to write a cover letter?
PLEADF IM SO DESPERATE
Answer:
no not really
Explanation:
but in most cases they are important
According to the graph above, if the price of coffee falls while the consumer is in equilibrium at point a, which of the following will occur?
a) The indifference curve shifts to the right
b) Consumer balance does not change.
c) The budget line shifts. to the right only on the horizontal axis.
d) The consumer can buy more shoes with all of his income.
Budgeting for Needs Select your needs from your cash expenses. CASH Last Month Gas for car$120 Fast food$20 Movie tickets$30 Amusement park$115
The necessities would be last month's gasoline for the car, while the expenses would be fast food, movie and amusement park tickets.
What are needs and expenses?Needs are a term that refers to the goods and services that a person needs in a fixed way for their daily life, some examples are:
TransportationFeedingEducationOutfitLiving placeAmong othersAccording to the above, it can be inferred that car gasoline is a necessity because it is a means of transportation that we can use to go to our work or place of study.
On the other hand, expenses are the goods and services that are not necessary for our daily lives but that we acquire for leisure and entertainment purposes. For example:
Video gameCinemaTheaterMake-upToysSweetStreet foodAmong othersBased on the above, it can be inferred that movie tickets, fast food, and amusement park tickets are expenses.
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When using the four-step process for organizing creative thinking, which step involves ideas beginning to flow?
Th illumination stage is the stage at which the ideas from creative thinking began to flow.
What is a creative thinking?This refers to a thinking process that is intented to gain a new insights and different ideas through existing information
The stages of the creative thinking includes:
PreparationIncubationIlluminationEvaluationVerificationIn conclusion, the illumination stage is the stage at which the ideas from creative thinking began to flow because the ideas are been illuminated from the mind.
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Among the four-step process for organizing creative thinking, the step of thinking which involves ideas beginning to flow is the Illumination.
What is a creative thinking?The Creative thinking is defined as the thinking procedure that is intended to obtain a fresh perception and different ideas through existing information.
These behaviors can assist companies in developing services, products and other offers that set them apart from their competition.
Stages of Creative thinking:
There are Four stages of the creative thinking:
Preparation Incubation Illumination EvaluationTherefore, illumination phase is the phase at which the thoughts from creative thinking start out to flow because the thoughts are being illuminated from the mind.
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The expected return for Stock Z is 30 percent. If we know the following information about Stock Z:
Return Probability
Poor 0.2 0.25
Lukewarm ? 0.5
Dynamite! 0.4 0.25
What return will stock Z produce in the Lukewarm state of the world?
The return for Stock Z in the Lukewarm state of the world is 30 percent.
To find the expected return?To find the expected return for the Lukewarm state of the wrld, we need to use the probabilities provided and the overall expected return for Stock Z (which is 30 percent).
Let's call the return for the Lukewarm state "X". We know that the probability of Stock Z having a Poor return is 0.2, and the probability of having a Dynamite return is 0.4. So the probability of having a Lukewarm return must be 0.5 (since the sum of all probabilities must equal 1).
Using this information, we can set up the following equation:
0.2(0.25) + 0.5(X) + 0.4(0.25)
= 0.3
Simplifying, we get:
0.05 + 0.5X + 0.1
= 0.3
0.5X = 0.15
X = 0.3
Therefore, the return for Stock Z in the Lukewarm state of the world is 30 percent.
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which one of the following statements about preferred stock is true? there is no significant difference in the voting rights granted to preferred and common shareholders. if preferred dividends are non-cumulative, then preferred dividends not paid in a particular year will be carried forward to the next year. unlike dividends paid on common stock, dividends paid on preferred stock are a tax-deductible expense. dividends on preferred stock payable during the next twelve months are considered to be a corporate liability. preferred stock usually has a stated liquidating value of $100 per share.
The statement that is true about preferred stock is that if preferred dividends are non-cumulative, then preferred dividends not paid in a particular year will be carried forward to the next year. This means that if a company does not pay dividends on its preferred stock in a given year, it does not owe those dividends to the preferred shareholders in the future. Non-cumulative preferred stock is the most common type of preferred stock issued by companies.
There is a significant difference in the voting rights granted to preferred and common shareholders. Preferred shareholders typically do not have voting rights, whereas common shareholders do. Dividends paid on preferred stock are not tax-deductible expenses, unlike interest paid on debt. Dividends on preferred stock payable during the next twelve months are not considered to be a corporate liability, but rather a current liability.
Finally, while preferred stock usually has a stated liquidating value of $100 per share, this value may fluctuate depending on market conditions. In summary, preferred stock is a type of security that offers investors a fixed dividend payment and higher priority in receiving assets in the event of a company's liquidation. However, preferred stockholders typically do not have voting rights and their dividends may not be cumulative. It is important for investors to carefully consider the terms and conditions of preferred stock offerings before making investment decisions.
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Short Case Study 1 - Gift amount received by a charity A charitable organisation in the Netherlands would like to know the factors affecting response to a fundraising campaign. In 2001, the charity sent requests for donations to 4,268 donors for one fundraising initiative. The results were recorded in the file, "charity.dta". The charity wants to understand the difference between those who responded and those who did not. They suspect exposure to their previous marketing efforts or donors' generosity would affect the gift amount. Below is the first model they want to estimate. = o + 1my + The variable "gift" is the amount donated to the initiative in Netherland Guilders. The variable "gift" would equal zero in the dataset if no amount were received. Otherwise, it will have the value of the amount given. The variable "mailsyear" was the average number of mail campaigns sent to the donor across four years. The charity proposes that the more donors are exposed to their campaigns, the more they will become more familiar with their work, and more significant donations will be made. The next model they want to estimate is below, where "avgdonate" is the average amount donated across four years. Some of the staff in the charity believe that the amount given will be based on how generous donors are. The gifts will be more significant if they have historically donated large amounts. = o + 1o + The charity wants to determine whether exposure or human nature affects the amount of gift received from donors. They want the models to be estimated model and interpreted.
Question: For the first model to be reliable, what OLS assumptions should be met? What would be the implication if these are violated? Explain in the context of the model.
The Ordinary Least Squares (OLS) is a popular method for conducting regression analysis on data. It assumes a linear relationship between variables and that the residuals (differences between predicted values and actual values) are normally distributed.
The following are the Ordinary Least Squares (OLS) assumptions:Linearity: The relationship between the dependent and independent variable should be linear. The best way to determine linearity is to examine the scatter plot of residuals vs. predicted values. A random pattern is an indication of linearity.Independence of residuals: The residuals must be independent of each other. Autocorrelation is when the residuals have a pattern that shows they are not independent. This may occur if the dependent variable is measured over time or space.Normality: The residuals should follow a normal distribution. A histogram of residuals can show if the residuals are normally distributed.Equality of variances: Homoscedasticity is when the variance of the residuals is equal. This means that the variance of the residuals is constant across the range of predicted values. A plot of residuals vs. predicted values can be used to identify this.Multicollinearity: This assumption occurs when the independent variables are highly correlated with each other. The VIF (Variance Inflation Factor) is used to identify multicollinearity. When VIF>10, multicollinearity is indicated.If any of these assumptions are violated, the reliability of the model will be affected. In the case of violation of linearity, the model's predictions may be inaccurate. In the case of the independence of residuals, the standard errors of the estimates may be underestimated, leading to p-values that are too low and hypothesis testing that is too liberal. In the case of normality, the regression coefficients and the standard errors may be biased. Violations of homoscedasticity lead to inefficient and unreliable estimates of the coefficients and standard errors. Multicollinearity results in unstable estimates of the regression coefficients, leading to wide confidence intervals.
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A car dealership performs a credit check on a potential customer. according to the credit bureau, the customer's credit score is 710. this is an example of
Answer:
Interval data
Explanation:
A credit bureau score is obtained when a company is about to give out a loan. It shows wether a person is likely to default on a loan based on historical borrowing behaviour.
When a score is between 580 to 669 means the scores are fair, 670 to 739 is a good score, while 740 to 799 is very good.
This way of scoring occurs in in a scale that occurs at equal intervals or units.
The scores are expressed as numerical value between points that are standardised and equal.
This is called interval data