When a Proportionate Stratified Sampling Plan Is Used,the Weighted Mean

question 67

Multiple Choice

When a proportionate stratified sampling plan is used,the weighted mean formula:

• A)should be used to ensure statistical efficiency.
• B)should be calculated using the weights represented by the proportions.
• C)should not be used.
• D)should be used if the sample size is greater than 100.
• E)should be used only if time constraints permit.

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Definitions:

Operating Budget

An estimate of income and expenditure for a set period of time.

Production Budget

An estimate of the total cost of production, including materials, labor, and overhead, for a specific period.

Direct Labour-Hours

The total amount of hours worked by employees directly involved in the manufacturing process.

Manufacturing Overhead

Refers to all the indirect costs associated with the production process, excluding direct materials and direct labor.