What Is a Multichotomous Variable

question 1

Multiple Choice

What is a multichotomous variable?

• A) a numeric variable with multiple decimals
• B) a categorical variable with one or more categories
• C) an interval variable with one or more values
• D) a categorical variable with two or more categories

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Definitions:

Resources

Assets, materials, or other inputs necessary for an organization to produce goods or services and operate effectively.

Expenses

Outflow of money to another person or company to pay for an item or service, or for a category within the income statement.

Costs

The total amount of money required for the production of goods or services, including materials, labor, and overhead expenses.

Prime Costs

The direct costs of manufacturing, including direct labor and materials.