An estimated coefficient, which indicates the degree by which the estimated values are affected by random factors is known as ___________?
Correct answer: A. standard error of estimated coefficient
- A. standard error of estimated coefficient
- B. weighted error of estimated coefficient
- C. average of estimated coefficient
- D. variance of estimated coefficient
Explanation
The standard error of an estimated coefficient measures the likely effect of random sampling factors on that estimate. Variance is related to dispersion, but it is not the coefficient's standard error itself.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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