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independent variable |
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Definition of independent variableindependent variablea variable that, when changed, will
Related Terms:Coefficient of determinationA measure of the goodness of fit of the relationship between the dependent and dependent variablean unknown variable that is to be predicted LagPayment of a financial obligation later than is expected or required, as in lead and lag. Also, the number least squares regression analysisa statistical technique that investigates the association between dependent and independent variables; it determines the line of "best fit" for a set of observations by minimizing the sum of the squares multiple regressiona statistical technique that uses two or Ordinary least squares (OLS)regression analysis a statistical technique that minimizes the sum of the squared deviations between a dependent variable and one or more independent variables and provides the user R squared (R^2)Square of the correlation coefficient proportion of the variability explained by the linear regression lineany line that goes through the means (or averages) of the set of observations for an independent variable and its dependent variables; mathematically, there is a line of “best fit,” which is the least squares regression line simple regressiona statistical technique that uses only one independent variable to predict a dependent variable Continuous random variableA random value that can take any fractional value within specified ranges, as decision variablean unknown item for which a linear programming Discrete random variableA random variable that can take only a certain specified set of discrete possible Endogenous variableA value determined within the context of a model. Exogenous variableA variable whose value is determined outside the model in which it is used. Also called Independent BrokerThis is a provincial government licensed independent businessperson who usually represents five or more life insurance companies in a sales and service capacity and who is paid a commission by those life insurance companies for sales and service of life insurance products. We for example, have been in business for 12 years and regularly place new business with over twenty different life insurance companies. Independent projectA project whose acceptance or rejection is independent of the acceptance or rejection of independent projectan investment project that has no specific Independent ProjectsA situation where an increase (or decrease) in the benefits of one key variablea critical factor that management believes will Normal random variableA random variable that has a normal probability distribution. Random variableA function that assigns a real number to each and every possible outcome of a random experiment. Semi-variable costsCosts that have both fixed and variable components. slack variablea variable used in a linear programming problem surplus variablea variable used in a linear programming problem that represents overachievement of a minimum requirement; it is associated with greater-than-or-equal-to constraints VariableA value determined within the context of a model. Also called endogenous variable. Variable annuitiesAnnuity contracts in which the issuer pays a periodic amount linked to the investment Variable AnnuityA form of annuity policy under which the amount of each benefit is not guaranteed or specified. The amounts fluctuate according to the earnings of a separate investment account. Variable costA cost that is directly proportional to the volume of output produced. When production is zero, Variable costA cost that increases or decreases in proportion with increases or decreases in the volume of production of goods or services. variable costa cost that varies in total in direct proportion Variable costA cost that changes in amount in relation to changes in a related activity. variable cost ratiothe proportion of each revenue dollar Variable costingA method of costing in which only variable production costs are treated as product costs and in which all fixed (production and non-production) costs are treated as period costs. variable costinga cost accumulation and reporting method variable costsCosts that change as the level of output changes. VARIABLE EXPENSESThose that vary with the amount of goods you produce or sell. These may include utility bills, labor, etc. variable expensesExpenses that change with changes in either sales volume Variable life insurance policyA whole life insurance policy that provides a death benefit dependent on the variable overhead efficiency variancethe difference between budgeted variable overhead based on actual input activity and variable overhead applied to production variable overhead spending variancethe difference between total actual variable overhead and the budgeted amount of variable overhead based on actual input activity Variable price securityA security, such as stocks or bonds, that sells at a fluctuating, market-determined price. Variable rate CDsShort-term certificate of deposits that pay interest periodically on roll dates. On each roll Variable rate loanLoan made at an interest rate that fluctuates based on a base interest rate such as the Variable rated demand bond (VRDB)Floating rate bond that can be sold back periodically to the issuer.
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