In Which Step of Estimating a Cost Function Using Quantitative

question 43

Multiple Choice

In which step of estimating a cost function using quantitative analysis do managers realize the relationship between the driver and costs is approximately linear,or there was an error in recording the data?

• A)Step 1: Choose the Dependent Variable.
• B)Step 2: Identify the Independent Variable,or Cost Driver.
• C)Step 3: Collect Data of the Dependent Variable and the Cost Driver.
• D)Step 4: Plot the Data.
• E)Step 5: Estimate the Cost Driver of the Estimated Cost Function.

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Definitions:

Richness

In communication theory, refers to the depth and complexity of information that communication mediums are capable of conveying.

Communication Channel

The medium through which a message is transmitted from sender to receiver, such as verbal, nonverbal, written, or digital.

Electronically Mediated Communication

The exchange of information or messages between individuals through electronic devices, such as computers or phones, over the internet or other networks.

Effective And Appropriate

Refers to actions or responses that are not only successful in achieving their purpose but also suitable for the context in which they are applied.