Business

Cost control is an extension of cost reduction. Cost reduction encompasses a much broader concept than cost control. In terms of objectives and standards, cost…

An input, assumption, or driver that is modified in order to analyze its influence on a dependent variable (the outcome) is known as an independent…

Multiple linear regression (MLR), often known as multiple regression, is a statistical approach for predicting a variable’s outcome based on the values of two or…

The practice of identifying and reducing business expenses in order to increase profits is known as cost control, and it begins with the budgeting process.…

Adjusted R-squared (R2) is a modified version of R-squared (R2) with the number of predictors in the model adjusted. To put it another way, the…

A cost-cutting strategy is a proactive approach to reducing spending. Cost reduction is the elimination of excess or unnecessary costs in the production and operation…

The sum of squares (SS) is a statistic that measures how far individual measurements deviate from the mean. It is a statistical technique that is…

The residual sum of squares (RSS), also known as the sum of squared residuals (SSR) or the sum of a squared estimate of errors (SSE),…

The standard error (SE) is a mathematical technique used to quantify variability in statistics. It is a statistical term that uses standard deviation to determine…

Sri Lanka’s quest to become the world’s first 100 percent organic food producer threatens the country’s prized tea industry and has sparked fears of a…

The deviation risk measure is a function that is used to assess financial risk and is distinct from other risk assessments. Risk measurement is largely…

In descriptive statistics, the standard deviation is the degree of dispersion or scatter of data points compared to the mean. The standard deviation can assist…