​Which of the Following Defines a Sunk Cost

question 50

Multiple Choice

​Which of the following defines a sunk cost?

• A)​Cost of the next best alternative
• B)Cost of producing an additional unit
• C)An asset with no scrap value
• D)​Total cost of producing a product

---

Definitions:

Factor Analytic Technique

A statistical method used to describe variability among observed, correlated variables in terms of potentially lower number of unobserved variables, called factors.

Test Construction

The process of developing a test that accurately measures what it is intended to measure, with reliability and validity.

Factor Analytic Approach

A statistical method used in psychology to identify clusters of related items (factors) on tests or surveys, revealing underlying variables.

Correlations

Statistical measures that describe the extent to which two variables change together, but not necessarily indicating causation.