The Last Step in Calculating the Hourly Rate to Be

question 72

Multiple Choice

The last step in calculating the hourly rate to be charged in time-and-material pricing is to

• A) estimate the total labor costs plus fringe benefits.
• B) estimate the total labor hours.
• C) add a profit margin.
• D) add a charge for overhead costs.

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Definitions:

Meta-Analysis

A quantitative literature review that combines the statistical results (e.g., correlation coefficients) from all studies conducted on a topic.

Factorial Design

A research design used in experiments involving multiple factors where each factor has two or more levels, and the effects of each factor as well as their interaction can be studied.

Quasi-Experiment

A quasi-experiment is a research design that resembles an experimental design but lacks the same level of control or random assignment of participants to groups.

Institutional Review Board

A committee that reviews and approves research involving humans, ensuring ethical standards are met.