As Consumers We're Connected to an Instant Feed of Live

question 22

Multiple Choice

As consumers we're connected to an instant feed of live updates, breaking news, and messages. We believe that when we post something on social media, we will get instant feedback from friends. What is the term for our beliefs of what will occur?

• A) satisfaction
• B) expectations
• C) confirmations
• D) predictors

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Definitions:

Cost Estimation

The process of forecasting the cost of completing a project with a defined scope.

Scattergraph

A graphical method used to display the relationship between two quantitative variables, often used to identify trends or patterns.

Least Squares Regression

A statistical method used to model and analyze the relationship between a dependent variable and one or more independent variables by minimizing the sum of the squares of the differences between the observed and predicted values.

Variable Manufacturing Cost

Costs that vary with production volume, including direct materials, direct labor, and certain overheads.