Conceptually, What Is the Standard Deviation

question 22

Multiple Choice

Conceptually, what is the standard deviation?

• A) The average amount that the scores in a distribution differ from the mean.
• B) The difference between the highest and lowest scores in a distribution.
• C) The mean of the squared scores.
• D) Half the difference between the highest and lowest scores in a distribution.

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Definitions:

Materials

Raw inputs or components used in the manufacturing or production process to create a final product.

Equivalent Unit

A concept used in cost accounting to express the amount of work done by incomplete units in terms of fully completed units.

Weighted-Average Method

An approach to inventory valuation where the cost of goods sold and ending inventory figures are derived from the average cost of all units on sale during that interval.

Process Costing System

A system of accounting used in manufacturing environments where products are mass-produced and costs are accumulated over a period, rather than per job.