An Example of a Categorical Variable Is the

question 13

Multiple Choice

An example of a categorical variable is the

• A) number of songs on my MP3 player.
• B) title of a song on my MP3 player.
• C) duration of a song (in seconds) on my MP3 player.
• D) composer of a song on my MP3 player.
• E) Both title of a song on my MP3 player and composer of a song on my MP3 player are correct.

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Definitions:

Opportunity Cost

The expense incurred by not choosing the second-best option while deciding.

Monthly Cash Flows

The total amount of money being transferred into and out of a business, particularly during a month.

Lockbox System

A system used by companies to expedite the collection of check payments by having them processed through a bank's PO Box.

Treasury Bills

Short-term government securities issued at a discount from the face value and maturing at their face value to create a return to the investors.