A.Differentiate Between Zero-Based and Incremental Budgeting

question 8

Short Answer

a.Differentiate between zero-based and incremental budgeting.
b.Under what conditions would you use each technique?

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Definitions:

Indicator Variable

A variable used in statistical models that takes the value 1 if a specific condition is true and 0 if it is false, often used to represent categorical data in numerical form.

Logistic Regression

A statistical method for analyzing datasets in which there are one or more independent variables that determine an outcome, which is dichotomous.

Multiple Logistic Regression

A statistical technique that models the probability of a certain outcome or event based on more than one independent variable.

Explanatory Variables

Variables in a statistical model that are believed to explain or influence changes in a response variable.