A Cause-And-Effect Relationship, Relative to Cost Drivers and Resulting Costs

question 228

True/False

A cause-and-effect relationship, relative to cost drivers and resulting costs, may develop because of physical relationships, contractual relationships, or implicit relationships.

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Definitions:

Mathematical Likelihood

A measure of the probability of a set of observations given a particular statistical model.

Practice Or Treatment

The application of a particular procedure or regimen to a subject or subjects in an experiment or study.

Chance

A measure of likelihood or probability that a particular event will occur.

Error

The difference between a measured or inferred value and the true value, often used in the context of statistical models and predictions.