The T Distribution Is More Spread Out and Flatter at the Center

question 26

True/False

The t distribution is more spread out and flatter at the center than the standard normal distribution.However,as the sample size increases,the t distribution curve approaches the standard normal distribution.

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Definitions:

Variable Overhead Efficiency Variance

is the difference between the actual variable overhead incurred and the standard cost allocated, based on the efficiency of utilizing resources.

Variable Overhead Efficiency Variance

The difference between the actual variable overhead and what the variable overhead costs should have been for the actual good units produced.

Materials Quantity Variance

The difference between the actual quantity of materials used in production and the expected amount, which can indicate efficiency or waste.

Materials Price Variance

The difference between the actual cost of materials purchased and the expected cost, based on standard prices.