When Reading a Table for Bivariate Analysis That Displays Percentages

question 24

Multiple Choice

When reading a table for bivariate analysis that displays percentages of some attributes,what is the rule of thumb for reading the table?

• A) if it adds up to 100% the statistics are accurate
• B) if the table is percentaged down, read across and if the table is percentaged across, read down
• C) if the table is percentaged down, read down and if the table is percentaged across, read across
• D) none of the above

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Definitions:

Implicit Costs

The opportunity costs of using resources owned by the firm for its own production instead of earning revenue from these resources elsewhere.

Explicit Costs

These are the direct, out-of-pocket payments made by businesses for operational expenses like wages, rent, and materials.

Monetary Outlay

The amount of money spent on a particular transaction or investment.

Implicit Costs

The opportunity costs that arise when a company uses internal resources without a direct payment.