The residual term is also considered as __________?
Correct answer: D. both a and b
- A. error term
- B. disturbance term
- C. relevant term
- D. both a and b
Explanation
In regression analysis, the residual is the unexplained part of the dependent variable and is called both the error term and the disturbance term. These terms describe the same unexplained deviation in this context.
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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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