At a Particular College, 32% of the Students Live in Campus

question 21

Multiple Choice

At a particular college, 32% of the students live in campus housing. If 6 students are in line at the campus bookstore, what is the probability that exactly 2 of them live in campus housing? Round to four decimal places, if necessary.

• A) 0.0438
• B) 0.6568
• C) 0.5255
• D) 0.3284

---

Definitions:

Direct Labor Standards

The expected labor time and cost that should be incurred under normal conditions to produce a unit of output.

Labor Rate Variance

The difference between the actual cost of direct labor and the estimated cost of direct labor at standard rates for the production achieved.

Labor Efficiency Variance

The difference between the actual hours worked to produce goods and the standard hours expected, multiplied by the standard labor rate, indicating efficiency in labor use.

Material Price Variance

The variance between the real price paid for materials and their anticipated (standard) price.