Figure 3-9.The following cost formula was developed using monthly data for a retail clothing store.Total cost = $75,620 + ($242 * number of customers)
-Refer to Figure 3-9. The term "total cost"
A) is the independent variable.
B) is the dependant variable.
C) is the intercept.
D) is the variable rate.

Question

Quizplus · Accepted Answer

The term "total cost" is the dependent variable, as it is being determined by the number of customers. The intercept is the constant value of $75,620 in this case, while the variable rate is the coefficient of $242, which indicates the cost incurred for each customer.