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On Monday, a class of students took a big test, and the highest score was 92. The next day,
a student who had been absent made up the test, scoring 100. Indicate whether adding that
student's score to the rest of the data made each of these summary statistics increase, decrease, or stay about the same:
a. mean
b. median
c. range d. IQR
e. standard deviation
Direct Labor-Hours
The cumulative hours put in by workers who are directly engaged in the manufacturing process.
Standard Labor Rate
The predetermined cost per hour for labor, used in budgeting and costing calculations.
Standard Machine-Hours
A predetermined amount of time that should be required to complete a task or produce a product on a machine, used for planning and efficiency analyses.
Variable Overhead Efficiency Variance
The difference between the actual hours taken to produce something and the standard hours expected, multiplied by the variable overhead rate per hour.
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