Compared to other accounting courses, the auditing study is more conceptual in character. Auditing places more emphasis on learning a framework of analytical and logical skills to evaluate the relevance and reliability of the systems and processes responsible for financial information than it does on learning the rules, techniques, and computations necessary to prepare financial statements. In order to succeed, students must first master the framework before learning how to apply auditing principles to numerous scenarios and situations using reason and common sense.
By offering a framework for assessing the usefulness and dependability of information—an critical task in many various contexts—understanding auditing helps enhance the decision-making skills of consultants, company managers, and accountants.
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A dental assistant earns $14 per hour. based on a standard workweek of 40 hours with time and a half for overtime, her gross pay for working 45 hours is:_________
A dental assistant earns $14 per hour. Based on a standard workweek of 40 hours with time and a half for overtime, her gross pay for working 45 hours is $595.
How to calculate the gross pay?
We are given that for 40 hours $14 per hour is paid. The overtime hours are paid half the price for each hour.
That means, for working 45 hours, dentist will get
$14 per hour for 40 working hours and $7 per hour for other overtime hours (5 hours here).
Hence,
[tex](40\times 14)+(5\times 7)\\560+35\\595\\[/tex]
The net gross income is $595.
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Which industrialist successfully adopted the bessemer process, revolutionizing the american iron industry by enabling the cheap and efficient mass production of steel?.
Andrew Carnegie was the industrialist who successfully adopted the Bessemer process, revolutionizing the American iron industry by enabling the cheap and efficient mass production of steel.
Andrew Carnegie was the main reason behind the expansion of the American Steel Industry in the late 19th century. He adopted the Bessemer process at his Homestead Steel Works plant because he wanted to produce cheap steel with more efficiency.
By 1889, America started to produce more steel than the UK and this resulted in Carnegie being one of the richest people in the United States. He was also a philanthropist.
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Process waits until you receive a response from your customer. what kind of flow object would use to show this?
To show that a process waits until a response from the customer is received, the event flow object is used.
In the business process model and notation diagram (BPNM), flow objects refer to objects which are connected together to form a complete process flow. An event is one such flow object. The event flow object signals that something happens during the course of a process. In the given case where a process has to wait to proceed further until a customer response is received, the event flow object with an intermediate event is used.
It is because, when an already underway process waits for the customer's response, it triggers an intermediate event within a process. The intermediate event has a cause e.g., waiting for the customer's response, and a result e.g., redirecting the flow of the process upon receiving the response from the customer.
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Identify the members of the food web as producers, primary consumers, secondary consumers, or tertiary consumers.
Primary consumers: are herbivores, feeding on plants. Caterpillars, insects, grasshoppers, termites and hummingbirds.
Secondary Consumers: Large predators, like wolves, crocodiles, and eagles.
Tertiary consumers: The larger fishes like tuna, barracuda, jellyfish, dolphins, seals, sea lions, turtles, sharks, and whales.
What is the difference between primary, secondary, and tertiary consumers in the food chain?Primary consumers are those who buy from primary producers (plants). Rabbits, for example, eat grass. The primary consumers are consumed by secondary consumers (herbivores). For example, snakes that eat rabbits. Secondary consumers are eaten by tertiary consumers (large predators).The position of some organisms in the food chain can change depending on their diet. When a bear eats berries, for example, the bear is acting as a primary consumer. When a bear consumes a plant-eating rodent, the bear acts as a secondary consumer. When the bear consumes salmon, it is acting as a tertiary consumer (this is because salmon is a secondary consumer, since salmon eat herring that eat zooplankton that eat phytoplankton, that make their own energy from sunlight). Consider how people's positions in the food chain change, often within a single meal.Tertiary consumers are eaten by quaternary consumers, such as a hawk that eats owls. Each food chain has a top predator that has no natural enemies (like an alligator, hawk, or polar bear).
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Eoq is used in a(n) ________ inventory system. group of answer choices
a. periodic
b. continuous
c. optimal
d. economic
Economic Order Quantity is used in a continuous inventory system.
The ideal order quantity for a company to purchase in order to minimize inventory costs like shortage costs, holding costs, and order costs is known as the economic order quantity (EOQ). Ford W. Harris created this production-scheduling model in 1913, and it has been refined over time. The formula assumes constant ordering, demand, and holding costs.
The economic order quantity (EOQ) is a business's optimal order quantity for minimizing total costs associated with receiving, ordering, and holding inventory of goods.
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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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Which assessment findings by the nurse would require obtaining a blood glucose level on the newborn?
Rationale 1: Jitteriness of the newborn is associated with hypoglycemia and would require close monitoring of blood glucose levels.
Rationale 2: Sucking on the fingers is a normal finding.
Rationale 3: A lusty cry is a normal finding.
Rationale 4: An axillary temperature of 98°F is a normal finding.
Glucose is an organic compound in the form of monosaccharide carbohydrates. This type is also known as the simplest type of carbohydrate, it cannot be broken down into smaller parts. This is why glucose is also called simple sugar. Just like glucose, monosaccharides also include fructose, galactose, and ribose. Usually, you can get glucose from vegetables, fruits, dairy products, and bread, but actually glucose is produced by the leaves of green plants.
Along with oxygen, glucose is produced when plants are photosynthesizing. Furthermore, the oxygen produced is then released into the air, while the glucose remains distributed throughout the plant tissue. This aims to support growth, help form flowers, and develop fruit from the plant itself. Glucose is spread throughout the plant tissue which then becomes a source of nutrition when it reaches your dinner table.
The source of these nutrients you eat and then become energy to survive. Up here it can be concluded that glucose is an important compound that the body needs. Even so, regular intake is preferred. Otherwise, serious problems will arise in the body.
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If a retail store owner does not have a popular item in stock because he underestimated the forecasted sales for that item, he most likely has a challenge with:_________
If a retail store owner does not have a popular item in stock because he underestimated the forecasted sales for that item, he most likely has a challenge with managing customer demands.
What are Customer demands?In the context of scientific sales, the term "customer demand" or "consumer demand" often refers to the issue or objective that consumers need to resolve. Customer demand commonly referred to as "want," is the desire for a certain product that can be satisfied by the purchasing power in the context of marketing.The requirement that the demand meets the requirement of being able to be satisfied by the buying power is the main distinction between customer demand and customer need or want.For supply planning, the beginning step is customer demands.
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Which of the following is an example of cross-trading
A. A contractor focuses solely on heating and air conditioning
B. A business produces more goods then their competitors because they can do it at a lower cost
C. A graphic designer is taking classes in project management and finance to improve her skills in those areas
D. An experienced pilot mentors newer pilots on their flying skills
The option that is an example of cross-trading among the following is option C. A graphic designer is taking classes in project management and finance to improve her skills in those areas.
A graphic designer invents visual concepts, using computer software or by hand, to communicate ideas that inspire, inform, and captivate consumers. A graphic designer forms the total design and production design for applications such as advertisements, brochures, magazines, and reports.
For such professional to take classes in project management and finance to improve her skills in those areas is tantamount to cross-trading since it is another field entirely.
What is cross-trading?A cross trade is a practice where buy and sell orders for the same asset are offset without recording the trade on the exchange. It is an activity that is not permitted on most major exchanges.
Therefore, the correct answer is option C. A graphic designer is taking classes in project management and finance to improve her skills in those areas.
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It is not important to determine who is a taxpayer’s dependent because taxpayers are not allowed to claim a deduction for dependents. True or false?.
" It is not important to determine who is a taxpayer’s dependent because taxpayers are not allowed to claim a deduction for dependents."
The given statement is True.
Determining and accurately determining the number of dependents is an essential part of completing a taxpayer's tax return. The deduction of personal and dependent exemptions is suspended for tax years 2018 to 2025 under the tax relief and employment law.
While the amount of the relief is nil, the ability to claim dependents can make taxpayers eligible for other tax benefits. For example, all of the following tax benefits can be linked to dependents: Child Tax Credit, Child Additional Tax Credit, Other Dependent Credit, Earned Income Credit, Child and Dependent Care Credit, Head of Household Status, and other tax benefits. Dependents are eligible children or eligible parents of the taxpayer. A taxpayer's spouse cannot be claimed as a dependent. Some examples of dependents include a child, son-in-law, brother, sister, brother, or parent.
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What is the effect on a company's balance sheet equation when depreciation expense is recognized?
Total assets and Total Stockholders' Equity will decline by the same amount upon recognition of Depreciation Expense.
Any resource that a business or other economic entity owns or controls is referred to as an asset. Anything that can be used to create wealth, whether it be material or intangible, qualifies. The ownership values of assets are those that can be converted into money (although cash itself is also considered an asset). A company's balance sheet displays the monetary value of the assets it possesses. It contains cash and other assets that are personal or corporate property.
Tangible and intangible assets are the two basic types of assets. Tangible assets can be divided into several different categories, including current assets and fixed assets. Examples of current assets include cash, inventory, and accounts receivable. Among fixed assets include land, structures, and equipment.
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_____ involves marketing philosophies, policies, procedures, and actions whose primary objective is the enhancement of society.
Social responsibility in marketing refers to marketing philosophies, strategies, practices, and actions whose main goal is to improve society and safeguard the environment by using environmentally friendly goods and methods.
SOCIAL RESPONSIBILITY: WHAT IS IT?
Sustainability can be attained through social responsibility. Any business or system can increase its chances of long-term sustainability and success by adopting fundamental social responsibility principles including accountability and transparency.
An organization's accountability for the effects of its choices and actions on people, the environment, and society through openness and moral behavior that: contributes to societal well-being and sustainable development, including health reflects an awareness of stakeholder expectations is in accordance with all current laws and international standards of conduct is incorporated across the business and used in partnerships.
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The rise in consumer demand for long-haul air travel and cars has been particularly marked where?
a. japan
b. europe
c. china
d. the uk
Option C is the proper response. Long-distance air travel as well as driving are becoming more popular with consumers as a result of the improving economy. For their work meetings, people are frequently commuting.
There is little doubt that living has gotten better steadily over the past few decades, despite occasional recessions, market collapses, and COVID-19. As living standards grew, a wide range of once-rich-only goods and services became generally accessible. The airline industry is the best example of how services have become more accessible to everyone. Those carriers were led by low-cost carriers (LCCs). Here, we'll examine that area of the market in more detail.Flying used to be a luxurious experience. The wealthy and business travellers were the main target audiences for airlines. The flyers were a well-fed and wined-up group. Flights back then hardly ever had a full cabin. The quiet passenger compartment was the perfect place to spread out and take a sleep.To know more about Air travels visit:
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How big a surplus or shortage will result if the price is 60 cents higher than the equilibrium price?
If the price rises by 60 cents from the equilibrium price, there will be a surplus of 14 units (+14).
What exactly is the Equilibrium Price?
When there is no change, there is equilibrium. This means that an equilibrium price is one at which both the supplier and the customer have no change.
Theoretically, at this price, the amount of products desired by buyers equals the amount of goods offered by sellers. As a result, both demand and supply are in sync with the equilibrium price. In other words, the equilibrium price is the point at which the market's supply and demand become evenly balanced, causing prices for that specific product to remain stable.
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Products related in such a way that an increase in the price of one reduces the demand for the other.
Complements are products that increase the use of other products, products related in such a way that an increase in the price of one reduces the demand for both.
A complementary appropriate is a service or product that offers fee to some other product or service. In different words, they may be things that the patron utilises in conjunction with each other. Cereal and milk, for example, or a DVD and a DVD
A Complementary exact is a product or service that provides price to another. In different phrases, they may be two items that the purchaser uses together.
A complementary product is an object that is offered collectively with the primary product. Those merchandises are used in conjunction, so complementary goods frequently bring little cost or can not be used one after the other, including petrol, SIM card, and baking powder.
Complements are items that might be consumed together. Substitutes are goods wherein you may devour one in region of the alternative. The prices of complementary or alternative items also shift the call for curve.
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Government expenditures create demand for goods and services. this is known as __________ and will cause ad to shift to the __________.
Government expenditures create demand for goods and services. this is known as expansionary fiscal policy and will cause ad to shift to the Right.
The aggregate demand curve says about the total demand for the economy. It also states us about the total demand at macro level. If an Average demand curve shifts to right then equilibrium quantity of output and the price level will rise. Average demand curve shifts to right then equilibrium quantity of output and the price level will fall. Fiscal policy is the use of government spending and the taxation which influence the economy. Government usually use fiscal policy to promote strong and sustainable growth and reduce poverty.
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You can compute a company's "net income" by
subtracting income tax from
A. net worth
B. sales tax
C. gross sales
Which organizational form best enables the owners of a firm to monitor the professional conduct of other owners of the firm?
Partnership best enables the owners of a firm to monitor the professional conduct of other owners of the firm.
What is Partnership?In a partnership, parties who are referred to as business partners agree to work together to further their shared objectives.
Individuals, companies, interest-based organizations, schools, governments, or combinations of these may be the partners in a partnership.
Organizations may work together to expand their reach and increase the likelihood that each will succeed in reaching their goals.
A partnership may solely be controlled by a contract, or it may issue and hold stock.
Every partnership must have a partnership agreement to exist, even if it hasn't been reduced to paper.
Although a written partnership agreement is not legally necessary in common law nations, partners may benefit from one that spells out the key conditions of their relationship.
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If a company purchases a bond with the expectation that it will be held until maturity, it will most likely be recorded on the balance sheet at:_________
If a company purchases a bond with the expectation that it will be held until maturity, it will most likely be recorded on the balance sheet at historical cost.
When utilizing historical cost as a measure of value in accounting, the value of an asset on the balance sheet is recorded at its original cost when it was purchased by the company.
Fixed assets in the United States are valued using the historical cost method, according to generally accepted accounting principles (GAAP).
The majority of long-term assets are recorded at their historical cost on a company's balance sheet.
Since it prevents overstating an asset's worth, using historical cost is consistent with conservative accounting.
While impaired assets may be written down to their fair market value, highly liquid assets may be recorded at their full market value.
Hence, it will most likely be recorded on the balance sheet at historical cost.
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According to the digital wallet overview video case, when adding a credit or debit card to your digital wallet, what security method is generally used to prevent someone else from adding your debit or credit card to their digital wallet?.
The E-wallet security method is generally used to prevent someone else from adding your debit or credit card to their digital wallet.
It encompasses all the activities that companies undertake to push, sell, and distribute that product or service. The goal is to digital wallet come up with sales and build a loyal Marketing customer base by informing prospective and existing buyers about the offering.
This happens through market research, research and contemplating the interest of a business's ideal customers and attracting them through messaging which might be educational and helpful to a business's target group.
Digital wallet is an organizational discipline, which deals with the sensible application of promoting orientation, techniques and methods in enterprises and organizations and with the management of a company's marketing resources and activities.
The underside line of any business is to form money and marketing is a vital channel to achieve that end goal. Credit explained that without marketing many businesses wouldn't exist because marketing is ultimately what drives sales.
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Which control standard is stated most effectively?
Multiple Choice
Praise employees more often this month.
Empower employees to make more decisions next year.
Increase sales of our top-end product from 2000 in the first quarter to 3000 during the same period by 2024.
Cut the number of finished product rejects.
The control standard that is stated most effectively is: Increase sales of our top-end product from 2000 in the first quarter to 3000 during the same period by 2024.
What is meant by the term control standard?This is the term that is used to refer to all of the set standards in an organization that has the ability of taking care of several measures as well as their control and all forms of corrective measures.
It helps in the comparison of the subsequent performance with the performance that used to exist.
Hence we would say that the answer is Increase sales of our top-end product from 2000 in the first quarter to 3000 during the same period by 2024.
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A ________ can be defined as a recurring period of decline that usually lasts 6 months to a year and includes many widespread contractions from many areas of the economy.
A recession can be defined as a recurring period of decline that usually lasts 6 months to a year and includes many widespread contractions from many areas of the economy.
When a country's Gross Domestic Product growth rate is low for two or more consecutive quarters, a recession has occurred. But based on important economic indicators like manufacturing statistics, income declines, job levels, etc., a recession can be identified even before the regular gross domestic product reports are released. Financial market issues are the cause of some recessions, such as the global financial catastrophe of 2008. Debt accumulation frequently occurs in conjunction with sudden gains in asset values and a quick expansion of credit. As businesses and families get overextended and have trouble repaying their debts, they cut back on investment and consumption, which lowers economic activity.
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Interest payable, income tax payable and salary payable are all examples of _______.
Those are all examples of liabilities. To be more specific, they are current liabilities. Interest payable, income tax payable, and salary payable are obligations that must be paid of within one operational cycle, thus they are just current liabilities.
Current liabilities are debts that must be paid off within a year or one operational cycle, whichever comes first. They can also be paid off using current assets or generate new current liabilities.
Analysts, accountants, and investors assess a firm's payables to determine how effectively it can fulfill its short-term financial obligations thus, the firm basically needs to generate sufficient profits and money in the immediate term to meet its debt commitments.
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After zappos. Com identified the needs of its target customer segment, what two marketing actions did the company take to fulfill the needs of its target customer?.
Two marketing actions the company takes to meet the needs of its target customers are offering fast shipping and free returns and offering a large stock of shoes.
Marketing strategy is a way for a company to achieve its goals, because the potential to sell a proposition is limited to the number of people who know about it.
Marketing Strategy Objectives
To improve the quality of coordination within the marketing team.To measure marketing results based on applicable performance standards.To provide a logical basis for any decision making.To improve the ability to adapt in case of changes in marketing.Marketing Strategy Function
Increase motivation to think far ahead.More effective and targeted marketing coordination.Can formulate company goals to be achieved.Supervision of marketing activities is more effective on work performance standards.You can learn more about Marketing strategy here brainly.com/question/15585962
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The statement of shareholders' equity discloses the changes in the shareholder equity accounts during the period from:_________
The statement of shareholders' equity discloses the changes in the shareholder equity accounts during the period which is from the distribution of owners, other comprehensive income, investment by owners, and net income.
Shareholders' equity is considered as the amount that the owners of a particular company have invested in their own business. This includes the money they have been directly invested in and the accumulation of income that the company has earned and that has been reinvested since the period of inception.
The statement of equity held by stockholders is the difference that existed between total assets and total liabilities. It is usually measured monthly, quarterly, or annually. It is found on the balance sheet as it is one of the three financial documents that are important in small businesses.
During the period from distribution of owners, investment by owners, and net income, the equity of shareholders discloses the changes that exist in the shareholder equity accounts.
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A new custom channel group may be applied retroactively to organize data that has been previously collected. True or false?.
To organize data that has already been gathered, a new custom channel group may be used retrospectively. The statement is true
Channel Groupings are divisions of your traffic sources depending on rules. Your data is categorized using the Default Channel Grouping, which is a collection of the most prevalent traffic sources, including Paid Search and Direct, across all Analytics reports.
For a collection of channels, the channel group object specifies the incoming and outgoing properties. The user can define a set of attributes, such as IP profiles, routing tables, translation tables, etc., to be assigned to the particular channel group being configured using the Channel Group object. For a list of qualities that can be given to the channel group being configured, see the Field Descriptions section below.
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Long-term borrowing is a source of financing capital acquisitions, but the borrowing is not reported as a liability of the capital projects fund.
true/ false
The statement is true. Capital purchases can be financed by long-term borrowing, but this debt is not recorded as a liability of the capital projects fund.
Despite what might be expected, fund-level financial statements do not include long-term payables or obligations for capital projects fund.
Because long-term borrowing proceeds and transfers from other accounts are likely sources of finance for significant projects, instead of using debt, capital projects are funded.
Additionally, bond sale earnings is one of the source of financing capital acquisitions as well as an important source of capital project funding. These assets are not considered revenues, but rather additional sources of funding. As a result, capital project fund expenses frequently surpass receipts.
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You are analyzing a company that has cash of $2,000, accounts receivable of $3,700, fixed assets of $10,900, accounts payable of $6,600, and inventory of $4,100. what is the quick ratio?
The quick ratio assesses a company's capacity to satisfy its short-term obligations using its most liquid assets and serves as an indicator of its short-term liquidity position. The quick ratio of the given question is 0.8636.
Quick ratio = (Cash and equivalents + Marketable securities + Accounts receivables) / Current liabilities
= ($2,000 + $0 + $3,700) / $6,600
= 0.8636
What is the Quick ratio?
The quick ratio gauges a company's ability to cover its short-term obligations without having to sell goods or seek for further funding.Compared to the current ratio, which counts all current assets as coverage for current obligations, the quick ratio is seen as a more cautious metric.A company's most liquid assets, such as cash, cash equivalents, marketable securities, and accounts receivable, are divided by all of its current liabilities to arrive at the quick ratio.Prepaids and inventory are two examples of specific current assets that aren't included since they might be harder to convert to cash or might need hefty discounts to be liquidated.The greater a firm's liquidity and financial health, the higher the ratio result; the lower the ratio, the more likely it is that the company will have trouble paying its debtsTo know more about Quick ratio example visit:
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The agency of the united states government that oversees the u. S. Financial markets is the.
The agency of the united states government that oversees the U.S. Financial markets is the Securities and Exchange Commission (SEC).
Discuss Security Exchange Commission.
The Securities and Exchange Commission (SEC) is the national government regulatory agency charged with supervision over the corporate sector, the capital market participants, and the securities and investment instruments market, and the protection of the investing public.
It was founded on October 26, 1936 by Commonwealth Act (CA) 83. Subsequent laws were enacted to encourage investments and more active public participation in the affairs of private corporations and enterprises, and to broaden the Commission’s mandates.
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When the future level of some variable is seen as a function of something other than time, the best forecasting models to use are __________ such as linear regression.
When the future level of some variable is seen as a function of something other than time, the best forecasting models to use are Causal model such as linear regression.
The most often used statistical technique in the human sciences is regression, which is easily accessible in the majority of commercially available software. Regression's statistics are rather simple, which encourages beginners to press the run button before ensuring that their data have a causal model. To understand regression outputs effectively, arithmetic proficiency is required but insufficient. Regression just clarifies the pattern of the correlations; it never shows the causal connections between variables.
A causal model is frequently a hypothesis that is based on a high-level understanding of human behaviour in the social sciences. A causal model can be any model that enforces a hierarchy between variables; it is not necessary for it to be a theory.
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