Given Below Is an Excerpt from a Management Performance Report

question 59

Multiple Choice

Given below is an excerpt from a management performance report: $\begin{array}{llll}&\text { Budget}&\text { Actual}&\text { Difference }\\\text { Contribution margin } & \$ 1,000,000 & \$ 1,050,000 & \$ 50,000 \\\text { Controllable fixed costs } & \$ 500,000 & \$ 450,000 & \$ 50,000\end{array}$ The manager's overall performance

• A)is 20% below expectations.
• B)is 20% above expectations.
• C)is equal to expectations.
• D)cannot be determined from information given.

---

Definitions:

Population Mean

The average of all the values in a population, representing the central tendency of the dataset.

Sample Size

The number of observations or data points collected in a statistical sample for analysis.

Standard Deviation

A measure of the amount of variation or dispersion in a set of values, indicating how spread out the values are from the mean.

Confidence Bounds

The upper and lower limits on a confidence interval, indicating the range within which a parameter is estimated to lie with a certain level of confidence.