Asked by Princess Ritsu on Jul 19, 2024
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To determine the slope of the variable cost from a scatter diagram,divide the change in units by the change in cost.
Slope of the Variable Cost
Represents the rate at which variable cost changes in relation to a change in output or activity level.
Scatter Diagram
A graphical representation used in statistics to show the relationship between two variables, displaying points at which a variable occurs.
Change in Units
The difference in the number of units, items, or parts between two periods, often used in inventory, production, or sales analysis.
- Familiarize oneself with the intention and process behind the development of scatter charts.
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Learning Objectives
- Familiarize oneself with the intention and process behind the development of scatter charts.
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