The table given below shows the price of each unit of the product manufactured by a firm and the marginal cost of producing different units of the output. Table: 9.1
Refer to Table 9.1.The firm depicted in the table is a(n) :
Definitions:
Mean Absolute Deviation
The average of the absolute differences between each data point in a set of values and the mean of that set.
Sum of Squares
is a statistical technique used to measure the dispersion or variation within a data set, calculated by squaring the differences from the mean and summing them.
Regression Trend Line
A graphical representation in statistics that shows the relationship between two variables and forecasts trends and future values.
Exponential Smoothing
A time-series forecasting method for univariate data that applies decreasing weights to past observations.
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