Gthe difference between the concept of a company mission statement and the concept of a strategic vision is that a mission statement deals with what to accomplish on behalf of shareholders, while a strategic vision concerns what to accomplish on behalf of customers. a mission statement typically concerns a company's purpose and its present business scope, whereas the principal concern of a strategic vision is a company's aspirations for its future. a mission concerns what to do to achieve short-term objectives, while a strategic vision concerns what to do to achieve long-term performance targets. a mission statement deals with "where we are headed," whereas a strategic vision provides the critical answer to "how will we get there? " a mission statement focuses on the methods needed to make a profit, whereas a strategic vision concerns what business model to employ in striving to make a profit.

An important application of regression analysis in accounting is in the estimation of cost. by collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, an accountant can estimate the cost associated with a particular manufacturing volume. consider the following sample of production volumes and total cost data for a manufacturing operation. production volume (units) total cost ($) 400 4000 450 5000 550 5400 600 5900 700 6400 750 7000 compute b 1 and b 0 (to 2 decimals if necessary). b 1 b 0 complete the estimated regression equation (to 2 decimals if necessary). = + x what is the variable cost per unit produced (to 1 decimal)? $ compute the coefficient of determination (to 4 decimals). note: report r 2 between 0 and 1. r 2 = what percentage of the variation in total cost can be explained by the production volume (to 2 decimals)? % the company's production schedule shows 500 units must be produced next month. what is the estimated total cost for this operation (to 2 decimals)? $