Sound Pricing Practices Begin with Knowing Product Costs

question 47

True/False

Sound pricing practices begin with knowing product costs.

---

Definitions:

Parts Per Million

A unit of measurement used to denote the concentration of a substance in water or air, equal to 1 part of the substance in 1,000,000 parts of the solvent.

Scatterplot

A type of graph used in statistics to display values for typically two variables for a set of data, showing how much one variable is affected by another.

Reciprocal Square Root

The mathematical operation of taking the square root of a number and then finding the reciprocal of that quantity.

Topsoil Concentration

The measure of nutrients and organic matter present in the uppermost layer of soil.