Most of the time, cost behavior is approximated by -------- cost function within the-----------range. a------------ cost function
Question:
Most of the time, cost behavior is approximated by -------- cost function within the-----------range.
a------------ cost function that has both variable and---------- elements. Total costs change but not in proportion to the changes in the level of activity in the relevant range.
Out of the six steps for estimating a cost function on the basis of an analysis of a past cost relationship. The step that is typically most difficult for the cost analyst would be collecting data on the--------------- variable and the------------ driver.
The vertical differences between actual and predicted dependent variable appear to be reasonably small is called--------------of fit.
If the independent variable appears to be a plausible cost driver of the dependent variable indicates a case of------- plausibility.