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The mentor of a class researched the number of hours spent on study in a week by each student of the class in order to analyze the correlation between the study hours and the marks obtained by each student. The data on the hours spent per week by 25 students are listed below.
a. What is the least amount of time a student spent per week on studying in this sample? The highest?
b. Use a class width of 2 hours to prepare a frequency distribution, a relative frequency distribution, and a percent frequency distribution for the data.
c. Prepare a histogram and comment on the shape of the distribution.
Padding the Budget
The practice of including extra costs in a budget to create a financial cushion, which can mislead or distort financial planning and decision-making.
Goal Incongruence
A situation where the objectives of different stakeholders or parts of an organization conflict with each other, potentially leading to inefficiencies or counterproductive actions.
Cost Target
Cost target is the budgeted or desired cost of manufacturing a product or executing a project, aimed at ensuring competitiveness and profitability.
Responsibility Accounting
An accounting system focused on controlling costs and evaluating performance by assigning responsibility to individual managers or departments.
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