Select the Best Description for the Following

question 37

Multiple Choice

Select the best description for the following:
-Total utility cost = $12,500 + ($10.00 × no.of machine hours)

• A)Fixed cost
• B)Variable cost
• C)Dependent variable
• D)Independent variable
• E)Variable rate
• F)Cost equation

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Definitions:

Finite Population Correction Factor

A statistical adjustment applied when sampling from a population that is small and finite, to ensure more accurate estimations.

Sample Size

Refers to the total count of individual data points or observations chosen from a wider population to be analyzed in a statistical study.

Standard Deviation

An indicator of the extent of differences or spread within a group of numbers.

Sample Size

The number of observations or data points collected in a sample from a population, used for making estimations or testing hypotheses.