Match Each Following Terms with Their Correct Description from the Items

question 99

Multiple Choice

Match each following terms with their correct description from the items listed below.
-Has an increased fixed component at specified intervals

• A)Variable cost
• B)Fixed cost
• C)Mixed cost
• D)Step cost

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Definitions:

College Major

The specialized area of study or field chosen by a college or university student to focus their academic coursework and degrees.

Nominal

A level of measurement that categorizes data but does not rank them.

Dummy Variables

Variables created to include categorical data in regression models by converting categories to a binary form (0 or 1), representing the presence or absence of some categorical effect.

Nominal Characteristic

A qualitative attribute of data that categorizes but does not imply any quantitative ordering or measure.