What Sample Statistic Is Used to Estimate a Population Parameter

question 91

Multiple Choice

What sample statistic is used to estimate a population parameter?

• A)Parameter
• B)Sampling error
• C)Point estimate
• D)Interval estimate

---

Definitions:

Plantwide Overhead Rate

This is a single overhead rate calculated by dividing all of a plant's manufacturing overhead costs by its total activity base, such as labor hours or machine hours, used across the entire factory.

Direct Labor-Hour

A unit of measure representing the labor time expended by workers directly involved in the manufacturing process, often used in cost accounting.

Activity-Based Costing

is a costing methodology that assigns overhead and indirect costs to specific products or services based on their consumption of resources.

Activity-Based Costing

An accounting method that assigns costs to products based on the activities performed for the product, providing more accurate cost information.