In 1998, the Average Age of Students at UTC Was

question 76

Essay

In 1998, the average age of students at UTC was 22 with a standard deviation of 3.96. In 1999, the average age was 24 with a standard deviation of 4.08. In which year do the ages show a more dispersed distribution? Show your complete work and support your answer.

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Definitions:

Cost of Goods Sold

Cost of Goods Sold represents the direct costs attributable to the production of the goods sold by a company, including material, labor, and overhead costs.

Lower-of-Cost

An accounting principle that states inventory is to be recorded at the purchase cost or the market value, whichever is lower.

Market Valuation

The estimated value or worth of an asset or a company determined through various methods, including market prices and financial modeling.

Inventory Turnover

A metric indicating how many times a company's inventory is sold and replaced over a particular period, demonstrating the efficiency of inventory management and sales performance.