Examlex
A factory supervisor's salary would be classified as an indirect cost with respect to a unit of product.
Sampling Error
The discrepancy between the statistical characteristics of a sample and those of the entire population, arising purely from the randomness of the sample selection.
Dummy Variables
Variables used in regression analysis to represent categorical data by assigning numerical values, typically 0 or 1, to represent the presence or absence of certain characteristics.
Categorical Variable
A variable that represents groups or categories, which are not numerical.
Regression Equation
An equation that describes the average relationship between a dependent variable and one or more independent variables.
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