Most Analysts Focus on the Cost of HECS Fees as the Way

question 23

Multiple Choice

Most analysts focus on the cost of HECS fees as the way to measure the cost of a university education.But incidentals,such as textbook costs,are rarely considered.A researcher at the University of Adelaide wishes to estimate the textbook costs of first-year students at the University.To do so,she monitored the textbook cost of 250 first-year students and found that their average textbook cost was $300 per semester.
-Identify the variable of interest to the researcher.

• A) The cost of incidental expenses of University of Adelaide students.
• B) The age of University of Adelaide students.
• C) The textbook cost of first-year University of Adelaide students.
• D) The year in school of University of Adelaide students.

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Definitions:

Direct Materials

Raw materials that are directly traceable to the manufacturing or production of specific goods or products.

Job Order Cost Accounting Systems

An accounting system used to accumulate costs by specific jobs, useful in industries where different customers require different products or services.

Process Costing

An accounting methodology used in manufacturing where costs are assigned to products based on the processes they go through in the production line, suitable for homogeneous products.

Lawn Fertilizer Manufacturer

A company that produces chemical or organic substances to promote the growth and health of grass.