An Unrecoverable Cost That Should Be Disregarded in Any Current

question 199

Multiple Choice

An unrecoverable cost that should be disregarded in any current or future decision is also called a(n) __________ cost.

• A)sunk
• B)explicit
• C)implicit
• D)variable

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Definitions:

Predictor Variable

An independent variable in statistical models that is used to predict or explain changes in the dependent variable (response variable).

Nominal Variable

A nominal variable is a type of categorical variable for which there is no natural ordering among the categories.

Regression Line Formula

An equation that describes the best-fitting straight line through a set of points, indicating the relationship between two variables.

Regression Line

A line of best fit through a scatter plot of data points that shows the relationship between two variables.