Video review relevant range.
Check out the link to the YouTube video that explains the relevant range. The lecture does a good job of explaining the topic, and I think it will help clarify this concept.
https://www.youtube.com/watch?
Right click on the link to start the video.
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The video analysis the cost estimation variables which can either be fixed with a relevant rage as explained. Fixed costs are the ones that do not change regardless of the kind or number of resources used. A good example is the monthly basic pay or bills which usually remains the same for a longer time and when the time comes, they change by a wide range. The costs have a linear view as we think of them with a relevant range. The meaning of this is that there are certain costs which although are fixed, can also vary within a range.
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