The Following Data Represent a Random Sample of the Number

question 85

Multiple Choice

The following data represent a random sample of the number of shares of a pharmaceutical companyʹs stocktraded for 20 days in 2000. $$\begin{array} { r r r r r } 4.71 & 9.63 & 11.13 & 8.25 & 14.57 \\6.02 & 10.42 & 9.67 & 12.83 & 13.98 \\4.97 & 9.27 & 12.32 & 7.48 & 28.27 \\8.44 & 10.87 & 5.01 & 7.97 & 11.61\end{array}$$

• A) not normally distributed
• B) normally distributed

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Definitions:

Repetitive Products

Goods that are mass-produced, usually on an assembly line, with little variation in design for each unit produced.

Opening Work In Process

The value of the products that were in the process of being manufactured at the beginning of an accounting period.

Prior Process Costs

Costs that have been incurred in earlier stages of the production process and are carried forward into subsequent stages.

Conversion Costs

The costs incurred during the transformation of raw materials into finished goods, typically including labor and overhead.