Which of the Following Statements About Business Statistics Is Not

question 118

Multiple Choice

Which of the following statements about business statistics is not true?

• A)Virtually every area of business uses statistics in decision making.
• B)Presenting business statistics always requires the use of a specific graph called a bar chart.
• C)There is a wide variety of uses and applications of statistics in business.
• D)Business statistics can be used to forecast future values and predict trends.

Comprehend the concept and components of High-Performance Work Practices (HPWP) and their relevance in leveraging human capital.

Define intellectual capital and its importance to organizational knowledge and success.

Identify stakeholders in an organization and understand their roles and impacts.

Understand the concept of globalization and its effects on organizational behavior and practices.

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Definitions:

Variable Costing

A costing method that includes only variable costs—costs that change with production levels—in the calculation of product costs.

Net Income

The total profit of a company after subtracting all expenses from total revenues, reflecting the company's financial performance over a given period.

Contribution Margin

The amount by which a product's sales price exceeds its total variable costs, used to cover fixed costs and generate profit.

Variable Costing

Variable costing is an accounting method that includes only variable production costs in the cost of goods sold and inventory valuation.