A Portion of the Population Selected to Represent the Population

question 8

Multiple Choice

A portion of the population selected to represent the population is called

• A)statistical inference
• B)descriptive statistics
• C)a census
• D)a sample

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Definitions:

Variable Costing

An accounting method that includes only variable production costs (direct materials, direct labor, and variable manufacturing overhead) in product costs.

Unit Product Cost

The total cost incurred to produce, market, and distribute a single unit of a product.

Variable Costing

This is an accounting method that only includes variable costs—costs that change with production volume—in the calculation of product cost.

Total Contribution Margin

The difference between total sales revenue and total variable costs, indicating the total earnings available to cover fixed expenses and generate profit.