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Commerce · Q432

Costing

Graduate and Post Graduate · Commerce · question 432

Q432

Second step for estimation of cost function by using quantitative analysis is to

A.
choose independent variable
Answer
B.
choose cost estimation method
C.
choose price estimation method
D.
choose dependent variable

Answer: Option A

Solution

Answer: Option A
Solution:
Second step for estimation of cost function by using quantitative analysis is to choose independent variable. An independent variable is the variable that is changed or controlled in a scientific experiment to test the effects on the dependent variable.