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A time machine provides you the opportunity to interview Sigmund Freud. During the interview, Freud admits that he never wanted to attend medical school. When you ask him how he made it through, he says, "I had eidetic imagery." What does he mean by that?
Weighted Average
A calculation that takes into account the varying degrees of importance of the numbers in a data set, giving weight to some numbers more than others.
Unit Contribution Margin
The difference between the selling price per unit and the variable cost per unit.
Margin of Safety
The difference between actual or projected sales and the break-even point; it measures the amount by which sales can drop before reaching the break-even point.
Profit-Volume Chart
A graphical representation that shows the relationship between a firm's profits and its volume of sales.
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