The Number of Hours a College Student Spent Studying During $$\begin{array} { | l | l | l | l | l | l | l | } \hline 7 & 6 & 4 & 9 & 8 & 5 & 10 \\\hline\end{array}$$

question 32

Essay

The number of hours a college student spent studying during the final exam week was recorded as follows: $$\begin{array} { | l | l | l | l | l | l | l | } \hline 7 & 6 & 4 & 9 & 8 & 5 & 10 \\\hline\end{array}$$ Compute the range, x, s² and s for these data. Express each number in appropriate units.

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Definitions:

Market Value

The current price at which an asset or service can be bought or sold in the open market.

Expensed

The process of recording costs as expenses in the income statement in the period in which they are incurred.

Direct Materials

Raw materials that are directly traceable to the production of a specific product and include in its cost.

Predetermined Overhead Rate

A rate calculated before a period begins, used to allocate manufacturing overhead costs to products based on a specific activity base.