An Administrator at Lakeside Middle School Is Interested in Examining

question 32

Multiple Choice

An administrator at Lakeside Middle School is interested in examining the probability of a child being late to school.The child is categorized as either late or not late.What type of distribution should the school use to examine this issue?

• A)Binomial distribution
• B)Normal distribution
• C)Exponential distribution
• D)Poisson distribution

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Definitions:

Spending Variance

The difference between the actual amount of an expense and the budgeted or planned amount.

Static Planning Budget

A budget based on a fixed level of activity and not adjusted for actual activity levels.

Flexible Budget

A report showing estimates of what revenues and costs should have been, given the actual level of activity for the period.

Revenue Variance

The difference between the actual revenue earned by a business and its expected (or budgeted) revenue, which can be favorable or unfavorable.