Which of the Following Definitions Best Describes Parsimony

question 14

Multiple Choice

Which of the following definitions best describes parsimony?

• A) Explaining the most with the least
• B) Explaining the least with the most
• C) Being able to explain all of the change in the response variable
• D) Being able to predict the value of the response variable far into the future

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Definitions:

Net Income

represents the total earnings of a company after deducting all expenses and taxes from total revenue.

Return on Investment

The gain or loss generated on an investment relative to the amount of money invested.

Selling Margin

The difference between the cost of a product and its selling price, indicating the profit made on the sale.

Net Income

The total profit of a company after all expenses, taxes, and costs have been subtracted from total revenue.