Parameters Are

question 94

Multiple Choice

Parameters are

• A) numerical characteristics of a sample.
• B) numerical characteristics of a population.
• C) the averages taken from a sample.
• D) numerical characteristics of either a sample or a population.

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Definitions:

Fixed Costs

Regular expenses that do not vary with the volume of production or sales, such as rent, salaries, and insurance premiums.

Capacity

The maximum amount or number that something can contain or accommodate.

Variable Costs

Costs that change in proportion to the level of production or sales volume.

Fixed Costs

Costs that do not vary with the level of output or activity, remaining constant over a period.