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Use the following information for the next 3 questions.
Balley, Inc. produces three milk products (all are main products) from a joint process costing $200,000. Data from the current period's operation follow:
-Which product(s) should be processed beyond the split-off point?
Dependent Variable
A variable in statistical modeling whose value is influenced by other variables.
Independent Variable
The variable in an experiment that is manipulated or changed to explore its effects on the dependent variable.
Significance Level
The threshold below which a test statistic must fall for the null hypothesis to be rejected, indicating statistical significance.
Coefficients
Numbers or parameters in a mathematical equation that multiply variables, often used to describe the relationship between variables in statistical models.
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