Question
What is a variable? Distinguish between a discrete and a continuous variable.
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Discrete Variable
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Continuous Variable
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A variable that takes only whole number as its value is called discrete variable.
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A variable that can take any value, within a reasonable limit is called a continuous variable
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These variables increase in jumps or in complete numbers.
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These variables assume a range of values or increase in fractions and not in jumps
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For example: Number of people in a family, number of students in a class, etc.
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For example: age, height, weight, etc.
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| Output (Units) | Average Total Cost (₹) | Average Variable Cost (₹) | Marginal Cost (₹) |
| 1 | 54 | 30 | 30 |
| 2 | - | 24 | - |
| 3 | - | - | 24 |
| 4 | 33 | - | - |