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ABC Electronics wants someone to install a top-of-the-line security system in its two buildings, a system that not only sounds an alarm but also simultaneously notifies authorities and the company president. Video surveillance of the premises should also be a capability of the security system. In order to obtain price quotes, what should ABC Electronics write?
Fixed Cost
An expense that does not change with an increase or decrease in the number of goods or services produced or sold.
Electricity
A form of energy resulting from the existence of charged particles, used as a power source.
Least-squares Regression
This is a statistical method used to determine a line of best fit by minimizing the sum of squares of the distances of data points from the line.
Warranty Costs
Expenses associated with repairing or replacing products under warranty, recognized as part of product support costs.
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