Which of the Following Would Be Classified as a Variable

question 139

Multiple Choice

Which of the following would be classified as a variable cost for the local Texaco station?

• A) Interest payments to a local bank for a 5-year loan.
• B) The total wages paid to the workers who are all paid $16.00 per hour, no matter how many hours they work each week.
• C) The premiums paid for liability insurance, which are constant throughout the life of the contract.
• D) The opportunity cost of money used to finance the installation of some new pumps.

---

Definitions:

Alternative Hypothesis

A hypothesis that contradicts the null hypothesis, proposing that there is a significant difference or relationship.

Sampling Distribution

The distribution of a statistic, like the mean or proportion, derived from a large number of samples of a specific size drawn from a specific population.

Mean

The average of a set of numbers, calculated by adding them up and dividing by the count of numbers.

Directional

In statistics, directional indicates that a hypothesis specifies the direction of an expected difference or relationship.