For Data Having a Bell-Shaped Distribution, Approximately __________ Percent of the Data

question 64

Multiple Choice

For data having a bell-shaped distribution, approximately __________ percent of the data values will be within one standard deviation of the mean.

• A)95
• B)66
• C)68
• D)97

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Definitions:

Labour Rate Variance

A financial metric that measures the difference between the actual cost of labor and the expected (or standard) cost.

Labour Efficiency Variance

Labour efficiency variance is the difference between the actual hours worked and the standard hours expected, multiplied by the standard labor rate, used to assess workforce performance.

Standard Labour Rate

A predetermined rate of pay established for work performed, used in budgeting and costing calculations.

Price Variance

A variance that is computed by taking the difference between the actual price and the standard price and multiplying the result by the actual quantity of the input.