Categorical Independent Variables Are ________

question 50

Multiple Choice

Categorical independent variables are ________.The independent variables must all be categorical (nonmetric) to use ________.

• A)factors;ANOVA
• B)covariates;ANOVA
• C)parameters;regression
• D)items;ANOVA

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Definitions:

Period Cost

Costs that are expensed in the period in which they are incurred, not directly tied to the production process.

Manufacturing Overhead

All manufacturing costs that are not direct materials or direct labor, including indirect materials, indirect labor, and other production-related expenses.

Prime Cost

The combined cost of direct materials and direct labor that are directly involved in the manufacturing of a product.

Direct Labour

The expenses related to workers who are directly engaged in creating products or services.