Examlex
In the mixed- cost function, Y = $59,000 + $7.70X, the $59,000 stands for:
Variance
A statistical measurement that represents the dispersion of a dataset relative to its mean, used to quantify the spread of data points.
Regression
A statistical method for estimating the relationships among variables, often used for prediction and forecasting in finance.
Correlation Coefficient
A statistical measure that calculates the strength of the relationship between two variables, ranging from -1 to 1, where 1 indicates a perfect positive correlation and -1 indicates a perfect negative correlation.
Standard Deviation
A statistical measure that represents the dispersion or variability of a data set or investment returns, indicating how much the values in the set deviate from the mean.
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