A Frequency Distribution for Nominal Data Requires That the Categories

question 51

Short Answer

A frequency distribution for nominal data requires that the categories be ___________________ and _____________________.

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Definitions:

Net Income

The company's net income following the deduction of all expenses and taxes from its total revenue.

Variable Costs

Expenses that fluctuate in proportion to the level of output or activity, such as raw materials and direct labor costs.

Fixed Costs

Expenditures that do not vary with the degree of output or sales, for instance, rental fees, wages, and insurance premiums.

Break-Even Point

The point at which total costs and total revenues are equal, meaning a business is not making a profit but also not incurring a loss.