What Is the Major Cost Element of the Railroad

question 34

Multiple Choice

What is the major cost element of the railroad?

• A) operation and maintenance of locomotives
• B) operation and maintenance of rights
• C) operation and maintenance of railcars
• D) operation and maintenance of yards and terminals

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Definitions:

Probability Mass Function

A mathematical operation that determines the likelihood that a specific discrete random variable matches a particular value exactly.

Outcome

The result or final consequence of a sequence of actions or events.

Incremental Costs

Incremental costs are the additional costs that are incurred from producing an additional unit of product or making a decision.

Incremental Revenue

The increase in income resulting from a specific business decision, distinct from the company's base revenue level.