Identify How Firms Use Predictive Analysis

question 105

Multiple Choice

Identify how firms use predictive analysis.

• A)to provide an educated guess regarding what is expected to occur in the near future
• B)to engage in data warehousing
• C)to engage in a low-cost strategy
• D)to design the most effective accounting information system

---

Definitions:

Product Outputs

The quantity of goods or services produced by a business or economy in a given period.

Marginal Product

The additional output produced as a result of using one more unit of a particular input, keeping other inputs constant.

Total Product

The total quantity of output produced by a firm from a given quantity of inputs during a specific period of time.

Fixed Cost

Any cost that in total does not change when the firm changes its output.