According to the Bureau of Labor Statistics, 7

question 37

Multiple Choice

According to the Bureau of Labor Statistics, 7.1% of the labor force was recently unemployed. A random sample of 100 employable adults was selected. Using the normal approximation to the binomial distribution, what is the probability that 6 or more people from this sample are unemployed?

• A)0.4030
• B)0.7324
• C)0.3219
• D)0.5561

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Definitions:

Predetermined Manufacturing Overhead Rate

A rate used to allocate estimated manufacturing overhead to individual jobs based on a predetermined activity, such as labor hours or machine hours.

Job C

A specific task, project, or assignment identified uniquely, usually within a job costing system.

Machine-Hours

A measure of production time where one machine-hour equals one machine working for one hour, used as an allocation base in costing.

Total Job Cost

The cumulative costs associated with a specific job or project, including materials, labor, and overhead.