When We Say That the Number Is "Statistically Significant," Which

question 170

Multiple Choice

When we say that the number is "statistically significant," which of these is closest to what we mean?

• A)the number is big enough for a sample in a good argument.
• B)the number is big enough to negate the results of other experiments.
• C)the number is big enough to have resulted from something besides chance.
• D)the number is big enough to influence events that happen later in the series.

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Definitions:

Direct Labor Rate

The cost of wages paid to workers directly involved in the production of goods or services, often used in job costing.

Materials Markup

A pricing method where a percentage is added to the cost of materials to cover overhead and profit.

Markup Percentage

A measure of how much the price of a product or service is increased over its cost to the seller, expressed as a percentage of the cost.

Variable Product Cost

Expenses that fluctuate in direct proportion to the amount of output produced, including direct labor and raw materials.