The Most Serious Shortcoming of the High-Low Method of Estimating

question 26

Multiple Choice

The most serious shortcoming of the high-low method of estimating a mixed cost function is that it:

• A)Focuses on fixed costs only and ignores variable costs
• B)Usually overestimates the total cost
• C)Is based on a very small portion of the available data
• D)Can only be used if contribution margin income statements are also being used

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Definitions:

Operants

Behaviors that are controlled or modified by their consequences, such as rewards or punishments, in the context of operant conditioning.

Reinforcers

Stimuli that, when presented after a behavior, increase the likelihood of that behavior occurring again in the future.

Instrumental Conditioning

A form of learning in which the participant receives a reinforcer only after performing the desired response, and thereby learns a relationship between the response and the reinforcer.

Correct Responses

Correct responses refer to answers or reactions that are accurate, appropriate, or in alignment with expected outcomes in a given context.