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Suppose that the distribution of weekly water usage for single-family homes in a particular city is mound shaped and approximately symmetric. The mean is 1,300 gallons, and the standard deviation is 200 gallons.
What is the approximate value of the 98th percentile?
Factory Overhead Rate
Factory overhead rate is the method of allocating indirect manufacturing costs, like utilities and rent, to individual units of production based on a specific allocation base.
Assembly Department
a division within a manufacturing plant where components are put together to create a final product.
Direct Labor Hour
The amount of time employees directly involved in manufacturing spend on producing a specific unit of output.
Factory Overhead Rates
Calculated rates used to allocate a factory's indirect costs to products being produced, aiding in determining total production costs.
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