A Statistical Method of Identifying Associations Among a Large Number

question 102

Multiple Choice

A statistical method of identifying associations among a large number of variables to reveal more general patterns is called _____________.

• A)statistics
• B)factor analysis
• C)number analysis
• D)standard deviation

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Definitions:

Root Cause Cost Driver

The underlying factor or activity that fundamentally causes a cost to occur within a business.

Cost Driver Analysis

The examination of factors that cause costs to change, often used in activity-based costing to identify and manage those factors more effectively.

Trigger Costs

Expenses incurred as a result of initiating specific actions or projects, often used in decision-making to assess the financial impact of those actions.

Activity Performed

A term that broadly refers to any actions or tasks completed during a process or project.