The Following Cost Formula Was Developed Using Monthly Data for Montreal

question 28

Multiple Choice

The following cost formula was developed using monthly data for Montreal Clothing Store.Total cost = $75,620 + ($242 × number of customers)
-Refer to the Figure.What does "total cost" represent?

• A)the independent variable
• B)the dependant variable
• C)the intercept
• D)the variable rate

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Definitions:

Highest 9%

Describes the uppermost value or percentage, in a different context perhaps suggesting an inversion or error, actually implicating a lower percentile.

Middle 96%

Refers to the central portion of a distribution or set of data points that encompasses 96% of all values, leaving 2% of the values on each tail end.

-2.05 To 2.05

Often refers to a range of values, possibly related to statistical significance levels, confidences intervals, or standard score (Z-score) ranges.

Middle 87.4%

Represents the percentage of data falling in the middle range of a distribution, often referred to in terms of percentile ranks or areas under a curve in statistics.