In a Statistics Class, the Following 10 Scores Were Randomly

question 51

Multiple Choice

In a statistics class, the following 10 scores were randomly selected: 74, 73, 77, 77, 71, 68, 65, 77, 67, 66. What is the median?

• A) 71.5
• B) 72.0
• C) 77.0
• D) 71.0
• E) 73.0

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Definitions:

Variable Overhead Spending Variance

The difference between the actual costs incurred for variable overheads and the expected costs of variable overheads based on standard cost.

Fixed Overhead Spending Variance

This metric measures the difference between the actual fixed overhead costs incurred and the budgeted (or standard) fixed overhead costs.

Variable Overhead Efficiency Variance

The difference between the actual variable overhead incurred and the expected variable overhead based on standard cost for the actual level of activity.

Performance Evaluation

The process of assessing the effectiveness and efficiency of individuals, teams, or systems within an organization.