The Following MINITAB Output Presents a Confidence Interval for a Population

question 45

Multiple Choice

The following MINITAB output presents a confidence interval for a population mean.
$\begin{array}{crrrcc}\hline \text { Variable } & \mathrm{N} & \text { Mean } & \text { StDev } & \text { SE Mean } & 99 \% \text { CI } \\\mathrm{x} & 29 & 114.9872 & 22.1061 & 4.1050 & (103.645,126.329) \\\hline\end{array}$
Use the information in the output to construct a $98 \%$ confidence interval.

• A) \(( 112.575,117.400 )\)
• B) \(( 104.860,125.114 )\)
• C) \(( 112.833,117.141 )\)
• D) \(( 103.645,126.329 )\)

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Definitions:

Direct Labor Cost

The wages or salaries directly attributable to the production of goods or services, excluding indirect costs such as supervision and maintenance.

Overhead Applied

Refers to the allocation of indirect costs to specific cost objects, such as products or services, based on a predetermined rate or basis.

Direct Labor-Hours

The total hours of labor directly involved in the manufacturing process, used as a basis for allocating manufacturing overhead to products.

Departmental Predetermined Overhead Rates

The estimated overhead rates assigned to different departments within a company, used for more accurate product costing.