_______ Data Has the Benefit of a True Zero Point

question 12

Multiple Choice

_______ data has the benefit of a true zero point.

• A)Interval
• B)Nominal
• C)Ratio
• D)Ordinal

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Definitions:

Variable Costs

Costs that vary directly with the level of production or volume of output, such as raw materials and direct labor.

Fixed Costs

Costs that remain constant regardless of the volume of goods or services produced by a business.

Net Income

The total profit of a company after operating expenses, taxes, and all other incomes and expenses have been deducted from total revenue.

Variable Costs

Costs that change in proportion with the level of production or sales volume, such as materials and labor.