_____ Is Used to Measure the Degree to Which Two

question 66

Multiple Choice

_____ is used to measure the degree to which two variables are correlated or associated with each other when both are ordinally related.

• A) Pearson product moment correlation
• B) Spearman rank-order correlation
• C) Chi-square
• D) Multiple regression

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Definitions:

Sales Price

The sum of money that a purchaser spends to acquire a product or service from a vendor.

Contribution Margin

The revenue remaining after deducting variable costs, which can be used to cover fixed costs and contribute to profit.

Variable Costs

Costs that change in proportion to the level of production or business activity.

Fixed Costs

Expenses that do not change with the level of production or sales activities within a reasonable scale.