To Standardize a Variable,simply Subtract the Mean and Divide the Difference

question 22

True/False

To standardize a variable,simply subtract the mean and divide the difference by the standard deviation.

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Definitions:

Independent Variable

A variable in an experiment or model that is manipulated or changed to assess its effects on a dependent variable.

Scattergraph

A graphical representation used in cost accounting to show the relationship between a cost (dependent variable) and its driver (independent variable).

Contribution Margin Ratio

The proportion of sales revenue that remains after variable costs are subtracted, represented as a percentage of total sales.

Selling Price

The amount of money for which a product or service is sold to customers.