Explain 2 Different Methods That Can Be Used to Measure

question 345

Essay

Explain 2 different methods that can be used to measure the reliability of scores obtained from a testing instrument.

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Definitions:

Fixed Manufacturing Overhead

The portion of manufacturing overhead costs that do not vary with the level of production or sales, such as factory rent.

Fixed Manufacturing Overhead

Costs that do not change with the level of production, such as rent, salaries, and insurance for the manufacturing facilities.

Budget Variance

The difference between the budgeted or baseline amount of expense or revenue, and the actual amount.

Insurance Rates

The cost per unit of coverage set by insurance companies, determining the premium paid by policyholders.