Examlex
Market research is a quantitative method of forecasting.
Overhead Cost
Indirect costs not directly tied to production but necessary for running business operations, such as rent, utilities, and administrative expenses.
Fixed Component
A portion of the total costs that remains unchanged regardless of the level of production or business activity.
Inspection Cost
The expenses associated with the activity of ensuring that a product or service meets specified standards of quality.
Least-squares Regression
A statistical method used to determine a line of best fit by minimizing the sum of the squares of the differences between observed and predicted values.
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