The Larger the Variance, the More the Data Are Spread

question 37

True/False

The larger the variance, the more the data are spread out from the mean.

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Definitions:

Standard Time

The established amount of time allowed for the completion of a specific task, based on average speed and efficiency.

Performance Rating Factor

A coefficient used to adjust a worker's observed time to establish a standard time for a specific task, taking into account differences in worker performance.

Labour Standards

refers to the set of regulations and criteria that determine the minimum safe and healthy conditions for workers in the workplace.

Historical Experience

The knowledge and insights gained from past events and activities, which can inform future decisions and strategies.