Answer:
For a company, net income is the residual amount of earnings after all expenses have been deducted from sales. In short, gross income is an intermediate earnings figure before all expenses are included, and net income is the final amount of profit or loss after all expenses are included.
Explanation:
Answer:
- Explanatory
Explanation:
<u>Explanatory variable</u> is elucidated as the variable that could affect the response variable. This variable is quite identical with the independent variable as it can be controlled or changed that may affect the response variable(which is similar to dependent variable). However, the observational studies observe the natural responses without any manipulation and therefore, these variables cannot be changed always. In the given example, the 'number of hours spent on studying for the test' would be the explanatory variable as it directly influences the response variable i.e. 'grades.'