Random Samples of Size 49 Are Taken from a Population

question 35

Multiple Choice

Random samples of size 49 are taken from a population that has 200 elements, a mean of 180, and a variance of 196. The distribution of the population is unknown. The mean and the standard error of the mean are

• A)180 and 24.39
• B)180 and 28
• C)180 and 2
• D)180 and 1.74

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Definitions:

Direct Labor-Hours

The total hours worked by employees directly involved in the manufacturing process or production of goods and services.

Variable Overhead Rate

A rate that changes with the level of activity or production volume, applied to variable overhead costs.

Lubricants Variance

A difference between the expected and actual cost of lubricants used in a manufacturing or operational process.

Variable Overhead

Variable overhead consists of indirect production costs that vary with the level of output, such as utilities for manufacturing facilities.