Explain What It Means That Third Variables Are "External" to the Causal

question 49

Essay

Explain what it means that third variables are "external" to the causal variable and mediators are "internal" to the causal variable.

---

Definitions:

Budgeted Cost PURCHASES

The projected expenses associated with acquiring materials or goods needed for production or sale.

Raw Materials Purchases

The total cost incurred by a company for buying the raw materials required in the production process.

Budgeted Accounts Receivable

The expected amount of money owed to a company by its customers for goods or services delivered, as forecasted in the budget.

Regular Pattern of Collection

A systematic approach to gathering data or information at consistent intervals.