Analyzing the Sales Journal to Find the Most Profitable Product

question 39

Multiple Choice

Analyzing the sales journal to find the most profitable product sold is an example of what type of diagnostic analytics?

• A) Identifying anomalies and outliers
• B) Finding previously unknown linkages, patterns, or relationships between variables
• C) Performing marginal analysis
• D) Performing descriptive analytics

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Definitions:

Total Product

The overall quantity of goods or services produced by a firm within a specific period.

Average Variable Costs

The total variable costs of production divided by the quantity of output produced.

Workers

Individuals engaged in any form of employment, contributing labor for the production of goods or services.

Units

Basic quantities or measures adopted to quantify and measure variables.