A Population Is Defined as _____________________

question 22

Short Answer

A population is defined as _____________________.

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Definitions:

High-Low Method

A mathematical method that uses the total costs incurred at the high and low levels of activity to classify mixed costs into fixed and variable components.

Mixed Cost

A cost composed of a fixed and a variable component and changes in total with the level of activity, but not proportionally.

Variable

An element, feature, or factor that is liable to change or be changed, often used in the context of experiments, statistics, or mathematics.

Mixed Costs

Costs that contain both a variable- and a fixed-cost element and change in total but not proportionately with changes in the activity level.