What Are Two Ways of Making a Prediction

question 52

Multiple Choice

What are two ways of making a prediction?

• A) guessing and using statistics
• B) extrapolation and guessing
• C) building a predictive model and guessing
• D) extrapolation and building a predictive model
• E) guessing and hypothesizing

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Definitions:

Factory Overhead

Indirect costs related to manufacturing, including utilities, depreciation of equipment, and salaries of supervisors.

Finished Goods

Goods that are fully manufactured and prepared for sale to consumers.

Cost of Goods Sold

The total direct costs attributable to the production of goods sold in a company.

Accounts Payable

The amount a company owes to suppliers or vendors for goods or services received that haven't yet been paid for.